NEW YORK, NY / ACCESSWIRE / February 23, 2018 / 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 February 20, 2018, HSBC announced full-year profit that fell below analyst expectations. Debt related to the South African retailer Steinhoff International Holdings N.V., which announced significant accounting irregularities in December 2017 and is restructuring, and the U.K. services and construction company Carillion plc, which entered liquidation proceedings in January 2018, increased HSBC's bad loan charges to $1.77 billion for the year, higher than analyst expectations. HSBC advised investors that it would delay a share buyback program while raising additional debt in the first half of 2018. On this news, HSBC's American depositary receipt price has fallen sharply during intraday trading on February 20, 2018.
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.
SOURCE: Pomerantz LLP
