"The federal jury in Manhattan on Friday ordered BNP Paribas to pay a combined $20.5m to three Sudanese plaintiffs who testified about human rights abuses perpetrated under former President Omar al-Bashir's rule. The Paris, France-based bank said it will appeal the verdict. This result is clearly wrong and ignores important evidence the bank was not permitted to introduce, the company said in a statement on Monday."
"Uncertainty about whether BNP Paribas could face further claims or penalties weighed on the bank's shares on Monday, and would likely continue to do so, traders and analysts said. The shares dropped as much as 10 percent at one point. Lawyers for the three plaintiffs, who now reside in the US, said the verdict opens the door for more than 20,000 Sudanese refugees in the US to seek billions of dollars in damages from the French bank."
A U.S. federal jury in Manhattan found BNP Paribas had helped Sudan's government commit genocide by providing banking services that violated American sanctions and ordered the bank to pay $20.5 million to three Sudanese plaintiffs. The plaintiffs testified about human rights abuses during Omar al-Bashir's rule. BNP Paribas said it will appeal, calling the result wrong and claiming important evidence was excluded. Shares plunged up to 10 percent amid uncertainty over further claims, with lawyers saying more than 20,000 Sudanese refugees in the U.S. could seek billions in damages. Analysts warn the verdict will likely weigh on the bank's stock.
Read at www.aljazeera.com
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