This is an important decision in US courts to recognize that HSBC and Lehman Brothers may be sued for the products that they sold in Hong Kong. Read this Bloomberg report.
I have asked the US lawyer if this decision has bearing on the legal action on the Pinnacle Notes. 200 investors in Singapore have signed to join this legal action.
This is good news, but I suspect that the legal action will be long drawn out affair. I just hope our Fidrec will also demonstrate that they are willing to safeguard investor's rights. BTW what did they US lawyer say.
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