- Household International - now part of HSBC (HBC +0.5%) - had lost a class-action suit in 2009 accusing it of misleading investors about the quality of its loans in 2001-02. The firm was found to have hidden the fact that its growth came from predatory lending practices. The judgement was entered today, and Household is expected to appeal.
HSBC unit hit with $2.5B judgement for securities fraud
Oct 17 2013, 15:38 ET