We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Societe Generale SA | EU:GLE | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.34 | -5.18% | 24.455 | 24.40 | 24.55 | 27.36 | 24.10 | 26.825 | 14,137,526 | 16:40:00 |
By Mengqi Sun
The grandchildren of the founders of a Cuban bank sued French bank Société Générale SA under a newly revived provision of a U.S. law that permits legal action by U.S. citizens or entities against companies doing business on property confiscated by the Cuban government.
The lawsuit, filed last week in federal court in Florida, is among the latest since the U.S. lifted the suspension of a provision of the 1996 Helms-Burton Act.
Javier Lopez, a partner at law firm Kozyak Tropin & Throckmorton PA in Miami who serves as one of the lawyers representing the 14 grandchildren in the case, said his clients are seeking $792 million in damages from Société Générale.
Société Générale didn't immediately respond to a request for comment Monday.
Carlos and Pura Nuñez started and owned Cuban bank Banco Nuñez before its assets, including physical branches, were confiscated and absorbed into state-owned bank Banco Nacional de Cuba in 1960, according to the complaint. Their heirs allege that Société Générale benefited from their family's property by dealing with Banco Nacional de Cuba, according to the complaint.
Société Générale allegedly conducted and concealed transactions between Cuban banks, including Banco Nacional de Cuba, and foreign operations through a series of credit facilities between 2000 and 2010, according to the complaint.
Write to Mengqi Sun at mengqi.sun@wsj.com
(END) Dow Jones Newswires
July 15, 2019 17:40 ET (21:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
1 Year Societe Generale Chart |
1 Month Societe Generale Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions