Freeman v. HSBC Holdings PLC

• Decision Date: 05 January 2023
• Docket Number: 19-3970,August Term 2020
• Citation: 57 F.4th 66
• Parties: Charlotte FREEMAN, for the Estate of Brian S. Freeman, Kathleen Snyder, Randolph Freeman, G.F., a minor, I.F., a minor, Danny Chism, Linda Falter, Russell Falter, for the Estate of Shawn O. Falter, Shannon Millican, for the Estate of Johnathon M. Millican, Mitchell Millican, Billy Wallace, Stefanie Wallace, D.W., a minor, C.W, A.W., a minor, Tracie Arsiaga, Cedric Hunt, Sr., Robert Bartlett, Shawn Bartlett, Lisa Ramaci, Isabell Vincent, Charles Vincent, Gwendolyn Morin-Marentes, for the Estate of Steve Morin, Jr., E.M., a minor, Audrey Morin, Steve Morin, Amy Lynn Robinson, Floyd Burton Robinson, For the Estate of Jeremiah Robinson, Deborah Noble, for the Estate of Charles E. Matheny, IV, Charles E. Matheny, III, Silver Farr, Patrick Farr, for the Estate of Clay P. Farr, Rayanne Hunter, W.H., a minor, T.H., a minor, Fabersha Flynt Lewis, Lorenzo Sandoval, Sr., for the Estate of Israel Devora-Garcia, Lorenzo Sandoval, Jr., H. Joseph Bandhold, Donald C. Bandhold, Nanette Saenz, for the Estate of Carlos N. Saenz, Juan Saenz, John Vacho, for the Estate of Carol Vacho, for the Estate of Nathan J. Vacho, Ashley Vacho, Jeanette West, for the Estate of Robert H. West, Shelby West, Donna Engeman, Suzzettee Lawson, for the Estate of Isaac S. Lawson, C.L., a minor, Judy Ann Crabtree, Ronald Wayne Crabtree, Debra Wigbels, Ronald William Crabtree, Judy Huenink, Sean Slaven, Chastity Dawn Slaven, Nicole Landon, Misti Fisher, Fred Frigo, Lynn Forehand, Lance Haupt, Rhonda Haupt, Tifany Haupt, Sabrina Cumbe, David W. Haines, Dawn Haines, C.H., a minor, Sangsoon Kim, Michelle Kim, Seop Steve Kim, for the Estate of Jang H. Kim, Helen Fraser, Richard Fraser, for the Estate of David M. Fraser, Tricia English, N.W.E., a minor, N.C.E., a minor, A.S.E., a minor, Todd Daily, for the Estate of Shawn L. English, Philip S. Ford, Linda Gibson, John Gibson, Denise Blohm, Jeremy Blohm, Joanne Gutcher, Tracy Anderson, Jeffrey Anderson, Anastasia Fuller, A.F., a minor, Anne F. Harris, Paul D. Harris, Hyunjung Glawson, Yolanda M. Brooks, Curtis Glawson, Sr., Ryan Sabinish, Ann Christopher, for the Estate of Kwesi Christopher, D.J.F., a minor, Ava Tomson, for the Estate of Lucas V. Starcevich, Richard Tomson, Bradley Starcevich, Glenda Starcevich, Ariana Reyes, Trenton Starcevich, Karen Funcheon, for the Estate of Alexander J. Funcheon, Robert Funcheon, Holly Burson-Gilpin, for the Estate of Jerome Potter, Nancy Umbrell, Mark Umbrell, Nancy and Mark Umbrell, for the Estate of Colby J. Umbrell, Ilene Dixon, Shelley Ann Smith, William Farrar, Sr., for the Estate of William A. Farrar, Tonya K. Dressler, Ardith Cecil Dressler, Melissa Dressler, Elizabeth Brown, for the Estate of Joshua D. Brown, Marian Brown, Wayne Brown, Danielle Sweet, for the Estate of Ryan A. Balmer, A.B., a minor, G.B., a minor, Donna Kuglics, for the Estate of Matthew J. Kuglics, Les Kuglics, Emily Kuglics, Sylvia Johnson Spencer, Raymond Nigel Spencer, Sr., John D. Lamie, Paula C. Bobb-Miles, for the Estate of Brandon K. Bobb, Johnny Javier Miles, Sr., J.J.M., Jr., a minor, Racquel Arnae Bobb Miles, Ursula Ann Joshua, Brittany Marionique Joshua, Ashley Gudridge, Marion Crimens, Timothy W. Elledge, Christopher Levi, Brenda Habsieger, Michael Habsieger, Jacob Michael Habsieger, Kelli D. Hake, for the Estate of Christopher M. Hake, Denice York, Russel York, Jill Hake, Peter Hake, G.H., a minor, Maria E. Calle, Kim Miller, Walter Bailey, Cassandra Bailey, Kacey Gilmore, Terrell Gilmore, Jr., Michelle Klemensberg, for the Estate of Larry R. Bowman, Harry Pickett, E.C.R., a minor, Rachel M. Gillette, Kousay Al-Taie, for the Estate of Ahmed Al-Taie, Adam G. Stout, Rebekah A. Coldewe, Scott Hood, Patricia Smith, Kathy Stillwell, for the Estate of Daniel Crabtree, Michael Smith, Chad Farr, Jacqueline A. Smith, R.J.S., a minor, David Hartley, for the Estate of Jeffrey Hartley, Linda Pritchett, Allen Swinton, Daniel Fritz, Temika Swinton, Marlynn Gonzales, T.S., a minor, Julie Chism, T.B., a minor, Kari Carosella, Mary Jane Vandegrift, William Parker, Scott Lilley, Pam Marion, Kyshia Sutton, Donnie Marion, Jason Sackett, Paula Menke, Robert Canine, Daniel Menke, S.J.S., a minor, Matthew Menke, Adam Wood, Nichole Lohring, Rosemarie Alfonso, Anna Karcher, K.B., a minor, Anastasia Fuller, for the Estate of Alexander H. Fuller, Michelle Benavidez, for the Estate of Kennith W. Mayne, Dan Dixon, for the Estate of Ilene Dixon, Daniel Benavidez, Sr., Dan Dixon, for the Estate of Robert J. Dixon, Christina Biederman, Cynthia Delgado, Daniel Benavidez, Jr., Kynesha Dhanoolal, Jennifer Morman, Merlese Pickett, Christopher Miller, John Vandegrift, Angie Jackson, Megan Marie Rice, Trina Jackson, Nancy Fuentes, for the Estate of Daniel A. Fuentes, S.J., a minor, Noala Fritz, for the Estate of Lyle Fritz, Gregory Bauer, Noala Fritz, Theresa Davis, Tiffany M. Little, Linda David, for the Estate of Timothy A. David, Michelle Klemensberg, Michael David, Kousay Al-Taie, Donna Lewis, Timothy Karcher, Kenneth J. Drevnick, Elizabeth Chism, for the Estate of Jonathan B. Chism, Tonya Lotto, Tabitha McCoy, for the Estate of Steve A. McCoy, Jerry L. Myers, Kathy Stillwell, Theresa Hart, Roberto Andrade, Sr., Wayne Newby, Robi Ann Galindo, Veronica Hickman, Ryanne Hunter, for the Estate of Wesley Hunter, David Eugene Hickman, Debra Levi, Devon Fletcher Hickman, Cortez Glawson, Rebecca J. Oliver, Linda Jones, J.L., a minor, Armando Fuentes, Wood Megan, Sean Elliott, Gilbert Arsiaga, Jr., Edna Luz Burgos, Adrian McCann, Erik Roberts, Frank Lilley, N.T., a minor, Harry Riley Bock, Colin Roberts, Jill Ann Bock, Robin Roberts, Brett Coke, Chastity Dawn Laflin, M.C., a minor, T.M., a minor, Meghan Parker-Crockett, Keri Cotton, Janet Jones, Julio Fuentes, Wesley Williamson, Daniel C. Oliver, J.L., a minor, Travis Gibson, Debbie Beavers, George J. White, Eric Levi, Johnny Washburn, Dan Dixon, Dakota Smith-Lizotte, R.N.R., a minor, George Arsiaga, John McCully, Hathal K. Taie, James Smith, C.F., a minor, Anthony Alderete, Amanda B. Adair, Michael J. Miller, Nicholas Baumhoer, Steve Morin, Sr., Kimberley Vesey, Zachary Hake, Cassie Collins, George D. White, Cara Roberts, M.T., a minor, Stephanie McCully, T.F., a minor, Terrel Charles Bartlett, Cory Smith, A.B., a minor, Evan Kirby, Judy Huenink, for the Estate of Benjamin J. Slaven, Carrol Alderete, B.D., a minor, Nancy Fuentes, John Vandegrift, for the Estate of Matthew R. Vandegrift, D.J.F., a Minor, Cynthia Delgado, for the Estate of George Delgado, Mackenzie Haines, Natalia White, Cynthia Thornsberry, K.W., a minor, Megan Marie Rice, for the Estate of Zachary T. Myers, R.M., a minor, Stephanie Gibson Webster, Christina Smith, Debbie Smith, Jeffrey D. Price, Cassie Smith, Harry Cromity, James Craig Roberts, Marvin Thornsberry, L.T., a minor, Skylar Hake, Vivian Pickett, Andrew Tomson, Flora Hood, Patricia Montgomery, Patricia Arsiaga, for the Estate of Jeremy Arsiaga, Don Jason Stone, Matthew Arsiaga, Alesia Karcher, Lawrence Kruger, Audrey Karcher, Thomas Smith, Shaylyn C. Reece, Andrew Lucas, John Sackett, Shaula Shaffer, Noala Fritz, for the Estate of Jacob Fritz, Shyanne Smith-Lizotte, Megan People, Nathan Newby, R.M., a minor, Tony Gonzales, Katherine McRill-Fellini, Victoria Denisse Andrade, Kristy Kruger, Joedi Wood, Austin Wallace, Tammy Vanderwaal, Angelica Andrade, Brian Neuman, Esther Wolfer, Samantha Tomson, Matthew Lilley, Bryan Montgomery, Angel Munoz, Kemely Pickett, Mariah Simoneaux, James Canine, Vanessa Chism, A.K., a minor, Raymond Montgomery, Donna Engeman, for the Estate of John W. Engeman, Carol Kruger, Nawal Al-Taie, Megan Smith, Leonard Wolfer, Tim Lucas, David Noble, Marsha Novak, Emily Levi, Tony Wood, E.C.R., a minor, Donna Lewis, for the Estate of Jason Dale Lewis, Kierra Glawson, Ethan Fritz, Stephanie Howard, Russell C. Falter, Kynesha Dhanoolal, for the Estate of Dayne D. Dhanoolal, Douglas Kruger, L.M., a minor, Brian Coke, Preston Shane Reece, Jean Mariano, A.L.R., a minor, Cassie Collins, for the Estate of Shannon M. Smith, G.L., a minor, Erika Neuman, Michael Lucas, Calvin Canine, Dixie Flagg, Bashar Al-Taie, Marjorie Falter, Jolene Lilley, Victoria Pena Andrade, Tiffany M. Little, for the Estate of Kyle A. Little, Elizabeth Chism, Tamara Runzel, K.L., a minor, Marlen Pickett, Tabitha McCoy, Shilyn Jackson, Kimberlee Austin-Oliver, Sylvia Macias, Merlese Pickett, for the Estate of Emmanuel Pickett, David Lucas, Plaintiffs-Appellants, v. HSBC HOLDINGS PLC, HSBC Bank PLC, HSBC Bank Middle East Limited, HSBC Bank USA, N.A., Barclays Bank PLC, Standard Chartered Bank, Royal Bank of Scotland, N.V., Credit Suisse, Bank Saderat PLC, John Does 1–50, Commerzbank AG, Defendants-Appellees.
• Court: U.S. Court of Appeals — Second Circuit

57 F.4th 66

Charlotte FREEMAN, for the Estate of Brian S. Freeman, Kathleen Snyder, Randolph Freeman, G.F., a minor, I.F., a minor, Danny Chism, Linda Falter, Russell Falter, for the Estate of Shawn O. Falter, Shannon Millican, for the Estate of Johnathon M. Millican, Mitchell Millican, Billy Wallace, Stefanie Wallace, D.W., a minor, C.W, A.W., a minor, Tracie Arsiaga, Cedric Hunt, Sr., Robert Bartlett, Shawn Bartlett, Lisa Ramaci, Isabell Vincent, Charles Vincent, Gwendolyn Morin-Marentes, for the Estate of Steve Morin, Jr., E.M., a minor, Audrey Morin, Steve Morin, Amy Lynn Robinson, Floyd Burton Robinson, For the Estate of Jeremiah Robinson, Deborah Noble, for the Estate of Charles E. Matheny, IV, Charles E. Matheny, III, Silver Farr, Patrick Farr, for the Estate of Clay P. Farr, Rayanne Hunter, W.H., a minor, T.H., a minor, Fabersha Flynt Lewis, Lorenzo Sandoval, Sr., for the Estate of Israel Devora-Garcia, Lorenzo Sandoval, Jr., H. Joseph Bandhold, Donald C. Bandhold, Nanette Saenz, for the Estate of Carlos N. Saenz, Juan Saenz, John Vacho, for the Estate of Carol Vacho, for the Estate of Nathan J. Vacho, Ashley Vacho, Jeanette West, for the Estate of Robert H. West, Shelby West, Donna Engeman, Suzzettee Lawson, for the Estate of Isaac S. Lawson, C.L., a minor, Judy Ann Crabtree, Ronald Wayne Crabtree, Debra Wigbels, Ronald William Crabtree, Judy Huenink, Sean Slaven, Chastity Dawn Slaven, Nicole Landon, Misti Fisher, Fred Frigo, Lynn Forehand, Lance Haupt, Rhonda Haupt, Tifany Haupt, Sabrina Cumbe, David W. Haines, Dawn Haines, C.H., a minor, Sangsoon Kim, Michelle Kim, Seop Steve Kim, for the Estate of Jang H. Kim, Helen Fraser, Richard Fraser, for the Estate of David M. Fraser, Tricia English, N.W.E., a minor, N.C.E., a minor, A.S.E., a minor, Todd Daily, for the Estate of Shawn L. English, Philip S. Ford, Linda Gibson, John Gibson, Denise Blohm, Jeremy Blohm, Joanne Gutcher, Tracy Anderson, Jeffrey Anderson, Anastasia Fuller, A.F., a minor, Anne F. Harris, Paul D. Harris, Hyunjung Glawson, Yolanda M. Brooks, Curtis Glawson, Sr., Ryan Sabinish, Ann Christopher, for the Estate of Kwesi Christopher, D.J.F., a minor, Ava Tomson, for the Estate of Lucas V. Starcevich, Richard Tomson, Bradley Starcevich, Glenda Starcevich, Ariana Reyes, Trenton Starcevich, Karen Funcheon, for the Estate of Alexander J. Funcheon, Robert Funcheon, Holly Burson-Gilpin, for the Estate of Jerome Potter, Nancy Umbrell, Mark Umbrell, Nancy and Mark Umbrell, for the Estate of Colby J. Umbrell, Ilene Dixon, Shelley Ann Smith, William Farrar, Sr., for the Estate of William A. Farrar, Tonya K. Dressler, Ardith Cecil Dressler, Melissa Dressler, Elizabeth Brown, for the Estate of Joshua D. Brown, Marian Brown, Wayne Brown, Danielle Sweet, for the Estate of Ryan A. Balmer, A.B., a minor, G.B., a minor, Donna Kuglics, for the Estate of Matthew J. Kuglics, Les Kuglics, Emily Kuglics, Sylvia Johnson Spencer, Raymond Nigel Spencer, Sr., John D. Lamie, Paula C. Bobb-Miles, for the Estate of Brandon K. Bobb, Johnny Javier Miles, Sr., J.J.M., Jr., a minor, Racquel Arnae Bobb Miles, Ursula Ann Joshua, Brittany Marionique Joshua, Ashley Gudridge, Marion Crimens, Timothy W. Elledge, Christopher Levi, Brenda Habsieger, Michael Habsieger, Jacob Michael Habsieger, Kelli D. Hake, for the Estate of Christopher M. Hake, Denice York, Russel York, Jill Hake, Peter Hake, G.H., a minor, Maria E. Calle, Kim Miller, Walter Bailey, Cassandra Bailey, Kacey Gilmore, Terrell Gilmore, Jr., Michelle Klemensberg, for the Estate of Larry R. Bowman, Harry Pickett, E.C.R., a minor, Rachel M. Gillette, Kousay Al-Taie, for the Estate of Ahmed Al-Taie, Adam G. Stout, Rebekah A. Coldewe, Scott Hood, Patricia Smith, Kathy Stillwell, for the Estate of Daniel Crabtree, Michael Smith, Chad Farr, Jacqueline A. Smith, R.J.S., a minor, David Hartley, for the Estate of Jeffrey Hartley, Linda Pritchett, Allen Swinton, Daniel Fritz, Temika Swinton, Marlynn Gonzales, T.S., a minor, Julie Chism, T.B., a minor, Kari Carosella, Mary Jane Vandegrift, William Parker, Scott Lilley, Pam Marion, Kyshia Sutton, Donnie Marion, Jason Sackett, Paula Menke, Robert Canine, Daniel Menke, S.J.S., a minor, Matthew Menke, Adam Wood, Nichole Lohring, Rosemarie Alfonso, Anna Karcher, K.B., a minor, Anastasia Fuller, for the Estate of Alexander H. Fuller, Michelle Benavidez, for the Estate of Kennith W. Mayne, Dan Dixon, for the Estate of Ilene Dixon, Daniel Benavidez, Sr., Dan Dixon, for the Estate of Robert J. Dixon, Christina Biederman, Cynthia Delgado, Daniel Benavidez, Jr., Kynesha Dhanoolal, Jennifer Morman, Merlese Pickett, Christopher Miller, John Vandegrift, Angie Jackson, Megan Marie Rice, Trina Jackson, Nancy Fuentes, for the Estate of Daniel A. Fuentes, S.J., a minor, Noala Fritz, for the Estate of Lyle Fritz, Gregory Bauer, Noala Fritz, Theresa Davis, Tiffany M. Little, Linda David, for the Estate of Timothy A. David, Michelle Klemensberg, Michael David, Kousay Al-Taie, Donna Lewis, Timothy Karcher, Kenneth J. Drevnick, Elizabeth Chism, for the Estate of Jonathan B. Chism, Tonya Lotto, Tabitha McCoy, for the Estate of Steve A. McCoy, Jerry L. Myers, Kathy Stillwell, Theresa Hart, Roberto Andrade, Sr., Wayne Newby, Robi Ann Galindo, Veronica Hickman, Ryanne Hunter, for the Estate of Wesley Hunter, David Eugene Hickman, Debra Levi, Devon Fletcher Hickman, Cortez Glawson, Rebecca J. Oliver, Linda Jones, J.L., a minor, Armando Fuentes, Wood Megan, Sean Elliott, Gilbert Arsiaga, Jr., Edna Luz Burgos, Adrian McCann, Erik Roberts, Frank Lilley, N.T., a minor, Harry Riley Bock, Colin Roberts, Jill Ann Bock, Robin Roberts, Brett Coke, Chastity Dawn Laflin, M.C., a minor, T.M., a minor, Meghan Parker-Crockett, Keri Cotton, Janet Jones, Julio Fuentes, Wesley Williamson, Daniel C. Oliver, J.L., a minor, Travis Gibson, Debbie Beavers, George J. White, Eric Levi, Johnny Washburn, Dan Dixon, Dakota Smith-Lizotte, R.N.R., a minor, George Arsiaga, John McCully, Hathal K. Taie, James Smith, C.F., a minor, Anthony Alderete, Amanda B. Adair, Michael J. Miller, Nicholas Baumhoer, Steve Morin, Sr., Kimberley Vesey, Zachary Hake, Cassie Collins, George D. White, Cara Roberts, M.T., a minor, Stephanie McCully, T.F., a minor, Terrel Charles Bartlett, Cory Smith, A.B., a minor, Evan Kirby, Judy Huenink, for the Estate of Benjamin J. Slaven, Carrol Alderete, B.D., a minor, Nancy Fuentes, John Vandegrift, for the Estate of Matthew R. Vandegrift, D.J.F., a Minor, Cynthia Delgado, for the Estate of George Delgado, Mackenzie Haines, Natalia White, Cynthia Thornsberry, K.W., a minor, Megan Marie Rice, for the Estate of Zachary T. Myers, R.M., a minor, Stephanie Gibson Webster, Christina Smith, Debbie Smith, Jeffrey D. Price, Cassie Smith, Harry Cromity, James Craig Roberts, Marvin Thornsberry, L.T., a minor, Skylar Hake, Vivian Pickett, Andrew Tomson, Flora Hood, Patricia Montgomery, Patricia Arsiaga, for the Estate of Jeremy Arsiaga, Don Jason Stone, Matthew Arsiaga, Alesia Karcher, Lawrence Kruger, Audrey Karcher, Thomas Smith, Shaylyn C. Reece, Andrew Lucas, John Sackett, Shaula Shaffer, Noala Fritz, for the Estate of Jacob Fritz, Shyanne Smith-Lizotte, Megan People, Nathan Newby, R.M., a minor, Tony Gonzales, Katherine McRill-Fellini, Victoria Denisse Andrade, Kristy Kruger, Joedi Wood, Austin Wallace, Tammy Vanderwaal, Angelica Andrade, Brian Neuman, Esther Wolfer, Samantha Tomson, Matthew Lilley, Bryan Montgomery, Angel Munoz, Kemely Pickett, Mariah Simoneaux, James Canine, Vanessa Chism, A.K., a minor, Raymond Montgomery, Donna Engeman, for the Estate of John W. Engeman, Carol Kruger, Nawal Al-Taie, Megan Smith, Leonard Wolfer, Tim Lucas, David Noble, Marsha Novak, Emily Levi, Tony Wood, E.C.R., a minor, Donna Lewis, for the Estate of Jason Dale Lewis, Kierra Glawson, Ethan Fritz, Stephanie Howard, Russell C. Falter, Kynesha Dhanoolal, for the Estate of Dayne D. Dhanoolal, Douglas Kruger, L.M., a minor, Brian Coke, Preston Shane Reece, Jean Mariano, A.L.R., a minor, Cassie Collins, for the Estate of Shannon M. Smith, G.L., a minor, Erika Neuman, Michael Lucas, Calvin Canine, Dixie Flagg, Bashar Al-Taie, Marjorie Falter, Jolene Lilley, Victoria Pena Andrade, Tiffany M. Little, for the Estate of Kyle A. Little, Elizabeth Chism, Tamara Runzel, K.L., a minor, Marlen Pickett, Tabitha McCoy, Shilyn Jackson, Kimberlee Austin-Oliver, Sylvia Macias, Merlese Pickett, for the Estate of Emmanuel Pickett, David Lucas, Plaintiffs-Appellants,

v.HSBC HOLDINGS PLC, HSBC Bank PLC, HSBC Bank Middle East Limited, HSBC Bank USA, N.A., Barclays Bank PLC, Standard Chartered Bank, Royal Bank of Scotland, N.V., Credit Suisse, Bank Saderat PLC, John Does 1–50, Commerzbank AG, Defendants-Appellees.^*

No. 19-3970

August Term 2020

United States Court of Appeals, Second Circuit.

Argued: February 1, 2021

Decided: January 5, 2023

Peter Raven-Hansen, George Washington University Law School, Washington, DC (Gary M. Osen, Ari Ungar, Michael Radine, Dina Gielchinsky, Aaron A. Schlanger, Osen LLC, Hackensack, NJ, on the brief), for Plaintiffs-Appellants.

Andrew J. Pincus, Mayer Brown LLP, Washington, DC (Mark G. Hanchet, Robert W. Hamburg, Mayer Brown LLP, New York, NY, on the brief), for Defendants-Appellees HSBC Holdings PLC, HSBC Bank PLC, HSBC Bank Middle East Limited, and HSBC Bank USA, N.A.

Marc R. Cohen, Alex C. Lakatos, Mayer Brown LLP, Washington, DC, for Defendant-Appellee Credit Suisse.

Alexis Collins, Cleary Gottlieb Steen & Hamilton LLP, Washington, DC; Jonathan I. Blackman, Carmine D. Boccuzzi, Jr., Cleary Gottlieb Steen & Hamilton LLP, New York, NY, for Defendant-Appellee Commerzbank AG.

Michael T. Tomaino, Jr., Jeffrey T. Scott, Sullivan & Cromwell LLP, New York, NY, for Defendant-Appellee Barclays Bank PLC.

Sharon L. Nelles, Andrew J. Finn, Bradley P. Smith, Sullivan & Cromwell LLP, New York, NY, for Defendant-Appellee Standard Chartered Bank.

Robert G. Houck, Clifford Chance US LLP, New York, NY, for Defendant-Appellee Royal Bank of...