NEW YORK, Oct. 20, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of HSBC Holdings plc ("HSBC" or the "Company") (NYSE: HSBC). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether HSBC and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 19, 2017, media outlets reported that the U.K. Financial Conduct Authority ("FCA") is investigating whether HSBC facilitated money laundering in connection with the family of South African businessman Atul Gupta. The FCA probe followed a letter by Peter Hain, a member of the U.K.'s House of Lords, raising concerns that illicit funds connected to the Gupta family have passed through the United Arab Emirates and Hong Kong, both significant markets for HSBC.
On this news, HSBC's American Depositary Receipt price has fallen as much as $0.48, or 0.97%, during intraday trading on October 19, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com