Lawrence E. Jaffe Pension Plan v. Household International
On October 17 Robbins Geller Rudman & Dowd secured a record $2.46 billion judgment in a long-running securities fraud class action against a unit of British banking giant HSBC Group. In a final judgment, U.S. District Judge Ronald Guzman ordered HSBC and three former executives of the unit, Household International Inc., to pay a total of $1.48 billion in damages and $986 million in prejudgment interest. The verdict is the largest by far in a securities class action trial to date.
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