09:31 AM EDT, 04/26/2024 (MT Newswires) -- HSBC Holdings ( HSBC ) has won a lawsuit filed in the UK by a group of investors who alleged the bank had misled them regarding tax breaks linked to financing Disney ( DIS ) movies, according to Bloomberg.

The 1.3 billion-pound ($1.63 billion) lawsuit alleged that HSBC ( HSBC ) misled investors over the Eclipse Partnerships, which offered opportunities to invest in deals with Disney ( DIS ) related to certain film rights. Investors said they were led to believe they would benefit from tax breaks by investing in film productions, and that losses could be written off. The lawsuit alleged that the program was denied tax breaks by the UK government because the movies were either not made or were not adequately promoted.

HSBC ( HSBC ) did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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