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EX-99.1 - EXHIBIT 99.1 - HSBC Finance Corpexhibit991-pressreleasedat.htm

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________________
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 16, 2016
__________________________________

Commission File Number 001-08198

HSBC FINANCE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
 
86-1052062
(State of incorporation)
 
(I.R.S. Employer Identification No.)
1421 West Shure Drive, Arlington Heights, Illinois
 
60004
(Address of principal executive offices)
 
(Zip Code)

(224) 880-7000
Registrant’s telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


 



HSBC Finance Corporation


Item 8.01. Other Events.

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 press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d)    Exhibits
Exhibit No.
 
Description
99.1
 
Press release dated June16, 2016.



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HSBC Finance Corporation


Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:    June 16, 2016
HSBC FINANCE CORPORATION
 
 
 
By:
 
/s/ MICHAEL A. REEVES
 
 
Michael A. Reeves
 
 
Executive Vice President and
 
 
Chief Financial Officer




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HSBC Finance Corporation


Exhibit Index
 
 
Exhibit No.
 
Description
99.1
 
Press release dated June 16, 2016.


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