| HSBC Is
Sued For
Firing
Whistleblower
Exposing Front
Running Sarb
Ox Cited
By Matthew
Russell Lee, Patreon Maxwell
book
SDNY COURTHOUSE,
Jan 2 –
Stephen
Callahan sued
HSBC for
firing him for
exposing
front-running.
The
complaint,
filed in the
U.S. District
Court for the
Southern
District of
New York where
Inner City
Press found
it, recounting
HSBC paying a
$100 million
fine for
front-running,
then fire the
plaintiff for
complaining.
The
Sarbanes-Oxley
Act of 2002 is
cited.
Callahan
says he heard
HSBC's Brian
Yip tell
junior trader
Russell Dean
to "always" by
or sell for
the Bank
before putting
a price on a
transaction
for a
customer. Then
on March 7,
2022, Callahan
was suspended
by
HSBC.
HSBC
Holdings plc's
response was
due December
30, but on
December 28 a
request was
made to extend
its time to
February 6,
2023.
The
case is
Callahan v.
HSBC Holdings
plc, et al.,
22-cv-8621
(Oetken)
***
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