Paul J. Lawerence
President and Chief Executive Officer
1105 N Market Street
Wilmington, Delaware 19801 Phone 1-302-652-4673
Fax 1-302-652-4927
Paul J. Lawerance, Chairman or Chief Executive Officer
452 Fifth Avenue
New York, New York, 10018 Phone 1-212-525-5000
Criminal Violations of the Law by HSBC North America Holdings, HSBC Bank HSBC AFS (USA) LLC.
(New York)*
1) Nondisclosure of the HSBC* rights offering to me, and hundreds of others.
2) The Prospectus gives no formula or algorithm for the calculation of how the price of the un-subscribed shares subscription price I was held libel for was derived. This is the root of the Grand Larceny. This shows complete disregard of the security laws by HSBC USA Holdings and their agents.
3) The use of unregistered personnel to process the rights offering.
4) Criminal Non-Disclosure of material information from investors like me..
Hyper Link to the Prospectus. I have hard copies.
Http://www.hsbc.com/1/PA_1_1_S5/content/assets/investor_relations/hsbc_rights_issue_prospectus_us. Pdf
Grand Larceny was committed on my account by HSBC USA Holdings (Paul J Lawrence, President, Stephen K Green, Chairman); Total loss was $73,610 plus fees and other charges..
The breakdown is as follows: 1) $36,310.89 (2141 times $14.29) from the rights offering 2) and $37,300.99 on the trade, plus other fees and costs for a total trade loss of $77,444. What HSBC* did to me is worse than piracy. At least I could run or fight off a pirate.
I had Bearish position of -6200 shares of HSBC.
I received no notice or disclosure from HSBC in regards to the HSBC rights offering made March 2.
This failure to disclose by HSBC is especially troubling because it shows complete failure of transparency and compliance with the law and HSBC's conspiracy to defraud a certain class of investors. A symbol of HBCRTS minus 2145 shares was attached to my account with no pre notification, disclosure or my consent. This was the groundwork for the Grand Larceny by HSBC* and their agents. Goldman Sacks, the underwriter and BNY Mellon.
I instructed my broker to close hbcrts form my account. I was advised Penson Financial would or could not comply with my repeated requests or that it was too late. This was despite 1) non-disclosure of this material fact 3) my repeated request to my broker to opt out 3) my lack of consent and 4) HSBC Holdings failure to give the formula for the unsubscribe shares in a timely manor. The price of the un-subscribed shares was arbitrary and determined after there was no ability for hundreds of others investors and I to opt out or cover the position.
March 30 my broker received a letter (enclosed) that my account may be libel for 2145 hbcrtrs
Rights offering. See enclosed doct. The basis of my complaint is: 1) NON DISCLOSURE of the rights offering to all interested investors in a timely manor. 2) Non-disclosure of the price or formula of how the price of the un-subscribed shares were calculated to which I was held libel and 3) the use of unregistered personnel to process rights information 4) Conspiracy of HSBC and their agent's to defraud a certain class of investor's by withholding material information. 4) The use
of unregistered people in key positions during the Right's process. I believe this goes from the lowest levels to the very top levels of the organization.
I have suffered additional damages from the trade. 1) Loss of the use of the money, because of
conspiracy of HSBC* to hide material fact's. Loss of sleep and mental depression because of what has happened. I want the whole trade broken as if it did not happen or reimbursement for the loss.
Of $73,610 plus the dividend I paid of $3100 and other fees of $77,444.00.
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