Magistrate Judge Steven Locke of the Eastern District New York, recently denied conditional certification under the Fair Labor Standards Act (FLSA) in the Cowell v. Utopia Home Carecase. For some home health patients, a plan of care includes general household tasks. | Janice Smits / Shutterstock This decision prevents the Utopia Home Care employees from filing …
Thursday, a unit of HSBC Holdings said it will pay $1.575 billion in order to end a 14-year old shareholder class action lawsuit. The lawsuit stems from questionable mortgage lending undertaking more than a decade ago from the Household International consumer finance business that HSBC bought in 2003, according to an article by Jonathan Stempel for Reuters. In the second quarter, the company …
Banking giants have been through tough times over the past decade or so owing to the global economic meltdown but HSBC has lurched from one controversy to the next with alarming regularity. The fallout from …
On August 19, 2002, Avril Lavine’s “Complicated” was the number-one song in the U.S., the public accounting firm Arthur Andersen LLP was about to surrender its CPA licenses, and the plaintiffs in Lawrence E. Jaffe Pension Plan v. Household International, Inc., et al filed their first complaint in U.S. District Court in Chicago. Jaffe was one of dozens of securities fraud suits that named …
HSBC said it will pay $1.57bn to end a class action lawsuit over its 2003 purchase of Household International that could have exposed it to $3.6bn in payouts. The bank said it would take a pre-tax charge of around $585m in the second quarter. HSBC merged Household International with another unit to …
HSBC has agreed to pay $1.58bn (£1.11bn, €1.4bn) to resolve a US shareholder class action lawsuit that was filed in 2002. The lawsuit had stemmed from HSBC’s 2003 acquisition of US subprime group, Household International. The 14-year-old lawsuit by Household’s shareholders …