LOS ANGELES, CA / ACCESSWIRE / February 21, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of HSBC Holdings plc ("HSBC" or "the Company") (NYSE: HSBC) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between January 27, 2017 and January 30, 2018, inclusive (the "Class Period"), are encouraged to contact the firm before April 9, 2018, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On February 20, 2018, HSBC announced full-year profit that fell below analyst expectations. Debt related to 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, helped increase HSBC's bad loan charges to $1.77 billion for the year, higher than expectations. HSBC advised investors it would delay a share buyback program while raising additional debt in the first half of 2018. On this news, when the truth was revealed to the investing public, HSBC securities fell sharply during intraday trading on February 20, 2018, causing shareholders harm.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
Schallfirm.com
SOURCE: The Schall Law Firm
