Singapore court dismisses investor claims against Standard Chartered over Lehman notes
A claim against Standard Chartered Bank in Singapore has been dismissed by a local court. The lawsuit was based on Lehman Brothers structured products bought from from American Express Bank, which Standard Chartered acquired in 2008.
A court in Singapore has dismissed a lawsuit brought by four investors against Standard Chartered Bank claiming that the UK bank misled them into buying certain investment products.
"The plaintiffs are former clients of American Express Bank which had invested in Lehman 10Y NC3M Callable Libor Range Accrual Note," says a spokesperson at Standard Chartered Bank in Singapore. "They had previously bought the notes through American Express Bank, which we acquired in March 2008.
The judge, Tay Yong
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