OREANDA-NEWS. June 20, 2016. HSBC Finance Corporation (HSBC Finance) today announced a resolution to a 14-year shareholder class action based on events that took place prior to HSBC's acquisition of Household International Inc. in 2003. HSBC Finance agreed to pay US\\$1.575bn to settle all claims in Jaffe v. Household International.

The settlement is subject to court approval and is expected to result in a pretax charge to HSBC Finance of approximately US\\$585 million, including legal fees and expenses, in the second quarter of 2016.

A copy of the HSBC Finance Corporation Form 8-K dated June 16, 2016 can be found on the U.S. Securities and Exchange Commission website at: 

https://www.sec.gov/Archives/edgar/data/354964/000035496416000048/0000354964-16-000048-index.htm