Kathaleen Freeman, et al. v. HSBC Holdings PLC, et al.

CourtDistrict Court, E.D. New York
DecidedMarch 31, 2026
Docket1:18-cv-07359
StatusUnknown

This text of Kathaleen Freeman, et al. v. HSBC Holdings PLC, et al. (Kathaleen Freeman, et al. v. HSBC Holdings PLC, et al.) is published on Counsel Stack Legal Research, covering District Court, E.D. New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Kathaleen Freeman, et al. v. HSBC Holdings PLC, et al., (E.D.N.Y. 2026).

Opinion

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF NEW YORK -------------------------------------------------------x KATHALEEN FREEMAN, et al.,

Plaintiffs, MEMORANDUM & ORDER - against - 18-CV-7359 (PKC) (PCG)

HSBC HOLDINGS PLC, et al.,

Defendants. -------------------------------------------------------x PAMELA K. CHEN, United States District Judge: This case involves allegations brought by Plaintiffs under the Antiterrorism Act (the “ATA”), 18 U.S.C. § 2333, as amended by the Justice Against State Sponsors of Terrorism Act (“JASTA”), Pub. L. No. 114-222, 130 Stat. 852 (2016). Plaintiffs bring these claims against ten banking institutions1 and John Does 1–50. Presently before the Court is Defendants’ motion to dismiss Plaintiffs’ Third Amended Complaint (“TAC”). (Defs.’ Mot. to Dismiss (“MTD”), Dkt. 143; Defs.’ Mem. Supp. MTD (“Mem.”),2 Dkt. 144; TAC, Dkt. 137.) For the reasons set forth herein, the Court dismisses the First through Ninth Claims as to Defendants for failure to state a claim under Federal Rule of Civil Procedure (“Rule”) 12(b)(6) and the Sixth Claim against

1 The ten banking institutions are HSBC Holdings PLC, HSBC Bank Middle East Ltd., and HSBC Bank USA, N.A. (collectively, “HSBC”); Barclays Bank PLC; Standard Chartered Bank (“SCB”); Royal Bank of Scotland, N.V. (“RBS”); Credit Suisse AG; Bank Saderat PLC (“Bank Saderat”); and Commerzbank AG (“Commerzbank”) (collectively, except Bank Saderat, “Defendants”). Bank Saderat has “failed to appear or otherwise defend this action.” (Entry of Default, Dkt. 52.) On January 7, 2021, the Court awarded Plaintiffs default judgment against Bank Saderat on some, but not all, of Plaintiffs’ claims. (Mem. & Order, Dkt. 90.) Default judgment has been issued as to Bank Saderat, (see id.), and thus all references to “Defendants” in this Memorandum & Order do not include Bank Saderat. 2 SCB and Commerzbank also filed separate supplemental memoranda of law in support of Defendants’ Motion. (See SCB Suppl. Mem. Supp. MTD, Dkt. 145; Commerzbank. Suppl. Mem. Supp. MTD, Dkt. 146.) Commerzbank for lack of personal jurisdiction pursuant to Rule 12(b)(2), but denies Commerzbank’s motion to dismiss the Tenth Claim. BACKGROUND The Court assumes the parties’ familiarity with the background of this case, see generally Freeman v. HSBC Holdings PLC, 413 F. Supp. 3d 67 (E.D.N.Y. 2019), aff’d on other grounds, 57

F.4th 66 (2d Cir. 2023) (“Freeman I Dismissal”); Freeman v. HSBC Holdings PLC, 465 F. Supp. 3d 220 (E.D.N.Y. 2020) (“Freeman II Dismissal”), and therefore sets forth only the factual and procedural background relevant to the instant motion. I. Factual Background Plaintiffs are American citizens killed or injured by terrorist attacks in Iraq between 2004 and 2011, and/or their families. (See TAC, Dkt. 137, ¶¶ 2226–4636 (describing 200 attacks and their effect on Plaintiffs and/or families).) Plaintiffs allege a wide-ranging conspiracy between Defendants, Bank Saderat, the Government of Iran, and various designated Foreign Terrorist Organizations (“FTOs”), namely Hezbollah, the Islamic Revolutionary Guard Corps (“IRGC”), and the IRGC Qods Force (“IRGC-QF”). (Id. ¶ 1.)3 Plaintiffs’ central allegations relating to the

conspiracy are that: (1) Defendants and Bank Saderat “worked individually . . . to benefit the IRGC and Hezbollah by knowingly, actively, and deliberately providing them with: (a) unusual, illegal, and substantial banking and payment services (including, among others, removing incriminating content from banking records, exploiting secure financial messaging networks, and manipulating internal bank audit controls); (b) multi-currency foreign exchange trading,

3 According to the TAC, Hezbollah has been an FTO since 1997, (TAC, Dkt. 137, ¶ 1 n.2), and the IRGC and IRGC-QF have been designated as FTOs since 2019, (id. ¶ 1 nn. 3–4). The IRGC-QF was previously designated as a Specially Designated Global Terrorist (“SDGT”) from 2007 to 2019. (Id. at ¶ 1, n.4.) processing, and settlement; and ([c]) facilitating massive trade-based money laundering (including helping convert bulk cash from trafficking in conflict diamonds,4 gold, and narcotics) on behalf of notorious customers publicly linked to terrorism,” (id. ¶ 7); (2) Defendants “knowingly assisted Hezbollah and the IRGC (including, hereinafter, the IRGC–QF[] . . . ) by converting the proceeds

Hezbollah derived from its various illicit activities, including trafficking in conflict diamonds, gold, narcotics, weapons (involving sums of bulk-cash, gold, and other precious metals), and conducting illicit oil sales,” (id. ¶ 9); (3) “Defendants then moved those proceeds around the world, including through currency exchange houses in the Middle East and Hezbollah’s unofficial bank in Lebanon, al-Qard al-Hassan (‘AQAH’), at the direction of Hezbollah’s and the IRGC’s agents,” (id.); and (4) the IRGC and Hezbollah then used that financing to “establish, recruit, train, fund, arm, and direct Iraqi Shia proxies [(‘Iraqi Proxies’)5], including FTO[s] . . . , to attack U.S. and other peacekeeping forces that were supporting Operation Iraqi Freedom (2003–2008) and Operation New Dawn (2009–2011),” (see id. ¶¶ 3, 5). II. Procedural Background In November 2014, some of the current Plaintiffs filed suit in this District against

Defendants6 alleging claims under the ATA (“Freeman I”). Freeman v. HSBC Holdings PLC, 350 F.R.D. 210, 213 (E.D.N.Y. 2025) (“Freeman I Reconsideration”). The Freeman I plaintiffs

4 The TAC defines “conflict diamonds” as diamonds sourced through “the illegal trade in diamonds with African countries where violent conflicts have taken place between armed militias and African government forces.” (TAC, Dkt. 137, ¶ 649 n.86.) 5 Plaintiffs identify the Iraqi Proxies as including “Badr Corps (Badr Organization), Jaysh al-Mahdi (‘JAM’ or the ‘Mahdi Army’) including the Promised Day Brigades, Asa’ib Ahl Al-Haq (‘AAH’ or the ‘League of the Righteous’), and Kataib Hezbollah (‘KH’) (designated an FTO in 2009).” (TAC, Dkt. 137, ¶ 1915.) 6 The Freeman I defendants are the same entities that are Defendants in the instant action. See Freeman I Dismissal, 413 F. Supp. 3d 67 (E.D.N.Y. 2019). amended their complaint twice. Id. While Defendants’ motion to dismiss the second amended complaint in Freeman I was pending, the Freeman I plaintiffs “filed their omnibus response . . . in which they pointed to the newly passed JASTA as providing ‘an alternative legal basis for Plaintiffs’ conspiracy claims.’” Id. (citation omitted). Defendants’ motion to dismiss in Freeman I

was referred to the Honorable Cheryl L. Pollak, Magistrate Judge, who issued her report and recommendation (“R&R”) in July 2018. Id. at 213. In October 2018, over Defendants’ objections and “while [their] objections to the R&R were pending, [the Freeman I plaintiffs] requested leave from Judge Pollak to ‘join’ over 400 new plaintiffs who had retained or were expected to retain Plaintiffs’ counsel since the filing of the [Freeman I second amended complaint] and whose claims would soon be barred by the statute of limitations.” Id. at 214 (citation omitted). In December 2018, the Freeman I plaintiffs changed course and “notified Judge Pollak that they had ‘decided to file a related case rather than to amend the [Freeman I second amended complaint].’” Id. (citation omitted). On December 26, 2018, Plaintiffs filed the instant action, Freeman II, on behalf of the

additional plaintiffs proposed in Freeman I. (Compl., Dkt. 1.) On April 11, 2019, Plaintiffs’ counsel filed an additional action in this District, Bowman et al. v. HSBC Holdings PLC et al., No.

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Kathaleen Freeman, et al. v. HSBC Holdings PLC, et al., Counsel Stack Legal Research, https://law.counselstack.com/opinion/kathaleen-freeman-et-al-v-hsbc-holdings-plc-et-al-nyed-2026.