We realize many complaints also ask, or mention, the possibility of lawsuits, retribution, or restitution. Since Household International paid $484 million in the nation’s largest predatory lending settlement and HSBC also paid $11 million more as a settlement for shady credit card payment processing, one must ask why HSBC bought Household to begin with.
Complaints reflect issues which, in some cases, have been ongoing since 1994. Here is an update from the courts:
WASHINGTON, June 21, 2007 — The Supreme Court on Thursday dealt a blow to investors who want to sue companies and executives because of suspected fraud, setting a higher standard for class-action lawsuits to go forward. The decision was the second one this week by the court that was a defeat for shareholders and a victory for the defendant companies. On Monday, the justices ruled that securities underwriters on Wall Street are generally immune from civil antitrust lawsuits.
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