From Channelnewsasia:
HONG KONG - Hong Kong's Consumer Council said Friday it was considering suing banks which allegedly mis-sold minibonds backed by failed US investment bank Lehman Brothers as risk-free investments.
The 50 cases the council was considering backing mostly concerned vulnerable elderly people who said their banks had not fully explained to them the risks involved when selling them the minibonds, a spokeswoman for the council said.
The complainants in the cases, which involved 14 banks, had invested between 100,000 and two million Hong Kong dollars in the controversial financial products.
Full article: Hong Kong watchdog may sue banks over Lehman minibond sales
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