NEW YORK, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of HSBC Holdings plc (“HSBC” or the “Company”) (NYSE: HSBC). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.   

The investigation concerns whether HSBC and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On February 21, 2024, HSBC announced its financial and operating results for 2023.  Among other items, the Company announced an impairment charge of $3 billion on a write-down of its stake in Bank of Communications Co., Limited (“BoCom”) and a $2 billion charge on the sale of its French retail operations. 

On this news, HSBC’s American depositary receipt (“ADR”) price fell $3.63 per ADR, or 8.89%, to close at $37.22 per ADR on February 21, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.   

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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980