Bank of America, Barclays, BNP Paribas, Citi, Goldman Sachs, HSBC, JPMorgan, RBS and UBS agreed to pay more than $2bn in this settlement a law firm involved in the process said.
By the way, there is no indication how the sum would be divided between the
banks as the agreement must still be
approved by US District Judge Lorna Schofield. Anyway, the sources reported that Barclays would pay $375m, HSBC $285m, BNP Paribas nearly
$100m and Goldman Sachs about $130m.
- "In addition to the billions of dollars in
compensation, these settling banks have agreed to cooperate with
investors in their continuing litigation," legal firm Hausfeld said in a statement published after a hearing in New York.
- "While the recoveries here are tremendous, they are just the beginning," said Hausfeld chairman Michael Hausfeld.
- "Investors around the world should take note of the significant recoveries secured in the United States and recognize that these settlements cover a fraction of the world's largest financial market," he said.
