The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On February 20, 2018, HSBC announced full-year profit that fell below analyst expectations. Debt related to South African retailer Steinhoff International Holdings N.V., which announced significant accounting irregularities in December 2017 and is restructuring, and the U.K. services and construction company Carillion plc, which entered liquidation proceedings in January 2018, helped increase HSBC’s bad loan charges to $1.77 billion for the year, higher than expectations. HSBC advised investors it would delay a share buyback program while raising additional debt in the first half of 2018. When the truth was revealed to the investing public, HSBC securities fell sharply during intraday trading on February 20, 2018, causing shareholders harm.