HSBC has vowed to fight a $250m (£151m) lawsuit brought against it over its alleged involvement in the Keydata scandal.
The bank's US subsidiary has been accused of aiding and abetting a "major international fraud" after it failed to spot a series of red flags in the run-up to the liquidation of SLS Capital, a Luxembourg-domiciled vehicle that issued bonds bought by Keydata investors. HSBC has said it will respond formally to the allegations by attempting to dismiss the complaint, which was filed in a New York court on Friday by SLS's liquidator. "We will respond by filing a motion to dismiss the complaint. As this is a legal matter, we have no further comment," the bank said in a statement. The com...
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