Hong Kong investors sue Lehman over minibonds

Posted by 7Star Saturday, March 14, 2009

A group of Hong Kong investors sued Lehman Brothers and HSBC in the US in their fight to recoup as much as $1.6 billion in losses after the collapse of the Wall Street firm left their bond holdings possibly worthless. Lawyers in the US said the plaintiffs are mostly retired people and retail investors who bought $2 billion worth of structured products that originated with Lehman and which HSBC marketed as low-risk ``minibonds.

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