Statement

RNS Number : 1224O

HSBC Holdings PLC

22 May 2015

 



STATEMENT

On 21 May 2015, the US Court of Appeals for the Seventh Circuit issued a decision in Glickenhaus & Co. v. Household International Inc., et al. (also known as Jaffe v. Household International Inc., et al.). The Court of Appeals reversed the partial final judgment of the Illinois District Court and remanded the case for a new trial as to Household on loss causation and damages.

The timing and ultimate resolution of this matter remains highly uncertain, and given the complexity and uncertainties associated with a re-determination of damages, there continues to be a wide range of possible outcomes. For further information on the Household matter, see note 40 on our Annual Report and Accounts 2014.

Investor enquiries to:
UK	Hong Kong	USA
[phone]	[phone]	[phone]
Media enquiries to:
Heidi Ashley	[phone]	[e-mail]
Rob Sherman	[phone]	[e-mail]

Note to editors:

HSBC Holdings plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from over 6,100 offices in 73 countries and territories in Asia, Europe, North and Latin America, and the Middle East and North Africa. With assets of US$2,670bn at 31 March 2015, HSBC is one of the world's largest banking and financial services organisations.

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