DAWN TARDIBUONO-QUIGLEY, on behalf of herself and all others similarly situated,
Plaintiff,

v.


HSBC MORTGAGE CORPORATION (USA) and HSBC BANK USA, N.A.,
Defendants.


Case No. 7:15-cv-06940-KMK-JCM

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK

UPDATE: The Final Hearing for this case will be held telephonically on May 20, 2020 at 10:30a.m.
The dial-in number is (888) 363-4749 ; access code 7702195. For more information, please read the Order.

NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT, SETTLEMENT HEARING, AND MOTIONS BY CLASS COUNSEL FOR AWARD OF CLASS COUNSEL FEES AND BY CLASS REPRESENTATIVE FOR SERVICE AWARD

TO: The proposed class (the “Class”) consisting of the following:

(a) Any person who, between July 31, 1992 and December 31, 2000, entered into a mortgage agreement with HSBC Mortgage Corporation (USA) and/or HSBC Bank USA, N.A., concerning the purchase of a residential property in New York that is not part of a cooperative, and who, at any time between September 2, 2012 and December 31, 2017, was assessed fees by HSBC Mortgage Corporation (USA), HSBC Bank USA, N.A., and/or any of their agents, for property inspections and/or broker price opinions (“New York Non-Co-Op. Class”);

(b) Any person who entered into a security agreement with HSBC Mortgage Corporation (USA) and/or HSBC Bank USA, N.A., concerning the purchase of a unit in a New York cooperative, and who, at any time between September 2, 2012 and December 31, 2017, was assessed fees by HSBC Mortgage Corporation (USA), HSBC Bank USA, N.A., and/or any of their agents, for property inspections and/or broker price opinions (“New York Co-Op. Class”);

(c) Any person who, during the relevant period as set forth as set forth in Exhibit A to the Settlement Agreement (available under the Settlement Filings section of this website), entered into a mortgage agreement or security agreement with HSBC Mortgage Corporation (USA) and/or HSBC Bank USA, N.A., concerning the purchase of residential property in a state other than New York, and who, at any time between September 2, 2012 and December 31, 2017, was assessed fees by HSBC Mortgage Corporation (USA), HSBC Bank USA, N.A., and/or any of their agents, for property inspections (“Non-New York P.I. Class”); and

(d) Any person who, during the relevant period as set forth as set forth in Exhibit A to the Settlement Agreement (available under the Settlement Filings section of this website), entered into a mortgage agreement or security agreement with HSBC Mortgage Corporation (USA) and/or HSBC Bank USA, N.A., concerning the purchase of residential property in a state other than New York, and who, at any time between September 2, 2012 and December 31, 2017, was assessed fees by HSBC Mortgage Corporation (USA), HSBC Bank USA, N.A., and/or any of their agents, for Broker Price Opinions that satisfies the Specified Criteria set forth herein (“Non-New York B.P.O. Class”)

The proposed settlement described herein may affect your legal rights and may entitle you to a monetary benefit.

This Notice of Pendency of Class Action and Proposed Settlement, Settlement Hearing, and Motions by Class Counsel for Award of Class Counsel Fees and by Class Representative for Award of Service Award was approved by the United States District Court for the Southern District of New York (the “Court”). It is not a lawyer’s solicitation.

This Notice advises you of the pendency and proposed settlement of the above-captioned action (the “Action”) brought by plaintiff Dawn Tardibuono-Quigley (“Plaintiff”), individually and on behalf of the Class (as defined above), against defendants HSBC Mortgage Corporation (USA) (“HSBC Mortgage”) and HSBC Bank USA, N.A. (“HSBC Bank”) (together, “HSBC” or “Defendants”). This Action alleges that Defendants unlawfully charged Plaintiff and Class members fees for property inspections and broker price opinions that were unnecessary, in breach of mortgage agreements and security agreements that preclude the assessment of fees for unnecessary services, and in violation of New York General Business Law § 349, among other claims. Defendants deny all the claims in the Action and deny that they have done anything wrong.

Plaintiff, individually and on behalf of the Class, has negotiated with Defendants a proposed settlement of the Action (the “Settlement”) on the terms set forth in the Stipulation and Agreement of Settlement dated September 25, 2019 (the “Settlement Agreement”). The Court has, for settlement purposes only, preliminarily certified the Class (as defined above), appointed Plaintiff as the Class Representative, and appointed Plaintiff’s counsel as Class Counsel. The Court has also approved the appointment of Angeion Group to serve as the settlement administrator (the “Settlement Administrator”). The Court has scheduled a hearing (the “Settlement Hearing”) for May 20, 2020 to determine, among other things, whether to approve the Settlement and to grant Class Counsel’s request for Class Counsel Fees and the Class Representative’s request for a Service Award. All capitalized terms used, but not defined, herein have the same meaning as the terms defined in the Settlement Agreement, which is posted on the Settlement Website at the section entitled “Settlement Filings” and available from the Settlement administrator, as described herein (see Question 3).

A Summary of Your Rights and Options:

If you are a Class Member, your legal rights are affected whether or not you act. Please read this Notice carefully. It explains your rights and options – and the deadlines to exercise them.

You May: Brief Explanation: Due Date:

1. File a Proof of Claim

This is the only way to receive any payment from the Settlement, if the Settlement is approved by the Court.

By remaining in the Class, you are consenting to the jurisdiction of the Court.

See Question 7

You must submit a Proof of Claim by April 8, 2020, either through the Settlement Website or by mail to the Settlement Administrator.

2. Request to be Excluded from the Class

You may exclude yourself from the Class and keep your right, if any, to sue Defendants for the claims asserted in the Action at your own expense. If you exclude yourself, you will not receive any settlement payment, but will not be bound by the terms of the Settlement Agreement, if approved by the Court.

See Question 16

You must submit a written request for exclusion by mail to the Settlement Administrator postmarked no later than April 8, 2020.

3. Object to the Settlement, Class Counsel’s Request for Class Counsel Fees or the Class Representative’s Request for a Service Award

If you do not exclude yourself from the Class, you may object to the Settlement or to Class Counsel’s or the Class Representative’s requests for Class Counsel Fees or a Service Award, respectively. You may also appear at the Settlement Hearing to present your objections.

See Question 18

Objections and requests to present arguments at the Settlement Hearing must be made in writing and filed with the Court and served on Class Counsel and Defendants’ Counsel no later than April 8, 2020.

4. Do Nothing

If you are a Class Member and neither submit a Proof of Claim nor exclude yourself from the Class, you will not receive any settlement payment and you will be bound by the Settlement Agreement (including the release of Defendants), if the Settlement is approved.

By remaining in the Class, you are consenting to the jurisdiction of the Court.

See Question 23

Not Applicable

The Court has not yet decided whether to approve the Settlement or to grant Class Counsel’s request for Class Counsel Fees or the Class Representative’s request for a Service Award. These issues, among others, will be addressed at the Settlement Hearing. If the Court does not approve the Settlement, the Action will proceed as if the Settlement had never been proposed and Plaintiff will, among other things, have to obtain certification of the proposed Class and prove her claims against the Defendants at trial.