A defense team at Gibson, Dunn & Crutcher scored a win for HSBC Holdings in a trade secret theft suit launched by First Citizens Bank and Trust Company in the aftermath of Silicon Valley Bank’s 2023 collapse.
In an order released Tuesday in the California Northern District Court, Magistrate Judge Laurel Beeler dismissed most of the claims made against London-based HSBC Holdings, HSBC entities HSBC USA (HUSI) and HSBC UK (HBUK), current HBUK employee and former SVB senior executive David Sabow and six former SVB employees.
