Will the Pinnacles Notes Trial in a NY court be a gamechanger?
This BT article dated 13/10/2011, by Grace Leong, analyses....
These are interesting times for those burnt by products linked to failed US investment bank Lehman Brothers.In the two years since 10 local distributors were penalised for having mis-sold such products, at least one lawsuit has been brought in the Singapore High Court by investors alleging they were misled into thinking these were low-risk investments.
The Mom & Pop retail investors were at the unfortunate end of a long food chain.
Tracing back the food chain is necessary and useful, to prevent the culprits from repeating such "scams".
But doing in different jurisdictions with cross border issues makes the process ardous and painstaking.
Glad that HLF and the others have the courage to pursue the case in the US Courts.