HSBC faces $1.1B loss from Madoff fraud ruling, stock falls (HSBC:NYSE)

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  • HSBC (NYSE:HSBC) on Monday said that it will recognize a provision of $1.1 billion in its third-quarter results following a court ruling in Luxembourg related to the Bernard Madoff investment fraud case.
  • Herald Fund SPC sued HSBC’s Luxembourg unit in 2009, claiming

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