Standard Chartered Plc is facing a $2.7 billion lawsuit from liquidators alleging it played a role in enabling the laundering of billions of dollars misappropriated from Malaysian sovereign wealth fund 1MDB.
This is a huge moment for the thousands of people who have been misled and overcharged by finance companies. Instead of facing costly and time-consuming individual cases, claimants can now pursue justice as part of omnibus actions, making access to justice fairer and more efficient for everyone involved.