HSBC Holdings plc (ADR) (NYSE:HSBC) Investor Investigation Over Potential Violations Of Securities Laws Announced

Investors who purchased shares of HSBC Holdings plc (ADR) (NYSE:HSBC), have certain options and should contact the Shareholders Foundation, Inc.

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Company Name(s): 
HSBC Holdings
Affected Securities: 

An investigation on behalf of investors of HSBC Holdings plc (ADR) (NYSE:HSBC) shares over potential securities laws violations by HSBC Holdings plc and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of HSBC Holdings plc (ADR) (NYSE:HSBC) concerning whether a series of statements by HSBC Holdings plc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On February 20, 2018, HSBC Holdings plc 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.

Shares of HSBC Holdings plc (ADR) (NYSE:HSBC) closed on February 23, 2018 at $51.23 per share.