NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of purchasers of HSBC Holdings plc (NYSE:HSBC) resulting from allegations that HSBC may have issued materially misleading business information to the investing public.
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, HSBC securities have fallen sharply during intraday trading on February 20, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by HSBC investors. If you purchased HSBC securities, please visit the firm’s website at http://www.rosenlegal.com/cases-1298.html to join the class action. You may also contact Phillip Kim or Daniel Sadeh of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
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