First-Citizens Bank and Trust Company v. HSBC Holdings plc et al

  1. February 08, 2024

    First Citizens Says HSBC Execs OK'd SVB Poaching Plan

    First Citizens Bank has beefed up allegations that HSBC Holdings stole confidential information and poached employees from the failed Silicon Valley Bank, filing an amended complaint Wednesday in California federal court, claiming HSBC's top executives and chief legal officer knew of the alleged poaching conspiracy.

  2. January 11, 2024

    First Citizens Gets 2nd Shot At 'Confusing' SVB Secrets Suit

    First Citizens Bank & Trust has won a chance to clean up a "confusing" lawsuit in California federal court that claims HSBC Holdings stole confidential information to poach employees from failed Silicon Valley Bank as it was divvied up between U.K. and U.S. buyers.

  3. December 21, 2023

    HSBC Urges Court To Ax First Citizens' $1B SVB Secrets Suit

    HSBC urged a California federal judge Thursday to toss First Citizens Bank's suit claiming it owes $1 billion for stealing confidential information to poach employees from failed Silicon Valley Bank as it was divvied up between the U.K. and U.S. buyers, calling the suit's allegations "vague and conclusory."

  4. October 26, 2023

    IP Forecast: Bank's Buyers To Face Off In $1B Secrets Fight

    Allegations that U.K. banking giant HSBC owes $1 billion for plundering confidential information while divvying up failed Silicon Valley Bank will go before a San Francisco federal judge Thursday. Here's a look at that case — plus all the other major intellectual property matters on deck in the coming week.

  5. August 08, 2023

    HSBC Slams First Citizens' $1B SVB Suit As 'Short On Facts'

    HSBC on Monday defended its hiring of several dozen former Silicon Valley Bank employees against a $1 billion poaching lawsuit brought by First Citizens Bank, which scooped up remnants of the failed California lender in a deal that the U.K. banking giant says did not include the workers' job contracts.  

  6. May 22, 2023

    First Citizens Slaps HSBC With $1B SVB Trade Secrets Suit

    Shortly after acquiring the recently failed Silicon Valley Bank, First Citizens Bank learned that HSBC was in the midst of "plundering" confidential and proprietary information from SVB, a "reprehensible" scheme that eventually involved HSBC poaching 42 First Citizens employees at once, according to a $1 billion suit filed Monday.