First Citizens FCNCA is suing HSBC Holdings HSBC for more than $1 billion in damages, alleging that the U.K. bank took top bankers and confidential information from fallen Silicon Valley Bank, press reports citing a lawsuit in federal court said. First Citizens bought SVB in the U.S. while HSBC bought its U.K. arm. The suit allegedly says 42 employees resigned en masse to join HSBC, and that ex-SVB employees obtained and misappropriated data.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Read Full Story
Latest posts by Market Watch (see all)
- : ‘Ability is ageless’: New York City helps retirees get back to work and fill open jobs - June 3, 2023
- : Beyond OpenAI: 7 promising startups that have saved lives, sped up drug development and improved manufacturing - June 3, 2023
- Biden signs debt ceiling bill that pulls U.S. back from brink of default - June 3, 2023
