BNP Paribas shares fall after US jury’s Sudan verdict

BNP Paribas Shares Plunge Amid $20.5M Verdict Over Sudan Genocide Allegations

The French banking giant's shares have suffered a significant drop, falling as much as 10% on Monday morning, following a US federal jury verdict that orders the bank to pay $20.5 million in damages to three Sudanese plaintiffs who accused BNP Paribas of aiding and abetting Sudan's government in committing genocide.

The judgment has raised concerns about potential future claims against the bank, with lawyers for the plaintiffs claiming that over 20,000 Sudanese refugees in the US could seek billions of dollars in compensation. In response to the verdict, BNP Paribas stated that it intends to appeal and said that the judgment is "clearly wrong" and ignores evidence not permitted by the court.

The bank's shares are likely to remain under pressure as investors wait for more clarity on potential future claims or penalties. Analysts at RBC Capital Markets believe that a lack of visibility on the financial impact of this verdict, combined with a history of underperformance in similar cases, will continue to weigh on the shares in the coming months.

In 2014, BNP Paribas agreed to pay an $8.97 billion penalty to settle US charges related to transactions with Sudanese entities subject to economic sanctions. The current verdict is another blow to the bank's reputation and raises questions about its corporate governance and compliance practices.

BNP Paribas' shares have already experienced their biggest daily fall since March 2023, with some analysts warning that this is just the beginning of a prolonged period of uncertainty for investors. As the situation continues to unfold, one thing is clear: BNP Paribas faces an uncertain future amidst allegations of human rights abuses and potential financial consequences.

OMG, who knew BNP Paribas was paying off that dude from Khartoum's cousin for being a victim of genocide? I mean, $20.5M is like peanuts for a bank with this kind of cash . They're basically just handing over their entire dessert menu to these Sudanese refugees – the crème de la crème (get it?) will probably be sipping lattes at Starbucks while they enjoy their payday . But seriously, BNP Paribas needs to get its act together and figure out what's going on before its shares go from " sinking" to "drowning"

can you believe how these verdicts can impact the banks reputation i mean bnp paribas has already paid out millions in fines before this, but it seems like they're still not doing enough to prevent these kinds of situations from happening again...anyway, i'm no expert, but it just feels like they're trying to sweep these issues under the rug and that's not good for anyone involved. what do you guys think is going on here?

I'm not surprised by this news at all. It's like, how can you trust a big bank that's been in trouble before? They've already paid out billions for previous scandals, but it seems like they're still getting into hot water. The thing is, the US has these crazy laws about human rights abuses, and it sounds like BNP Paribas might have gotten caught up in something they didn't even know was happening .

I mean, $20.5 million might not seem like a lot to some people, but for a bank of this size, it's like peanuts . And now you're talking about billions more from all these Sudanese refugees? It's like, can't they just leave BNP Paribas alone?

I'm no expert or anything, but I think banks have to be really careful with their compliance and stuff. They need to make sure they're not hurting anyone or getting into trouble. And when you're as big as BNP Paribas, one little slip-up can be a big deal .

It's all just a bit too much for me, you know? I don't know how they'll recover from this. The bank's shares are going to keep taking a hit until they sort out their problems .

I don't get why they're not taking this more seriously, you know? They've got $20.5 million in damages and over 20,000 refugees coming for 'em... it's a nightmare scenario for investors already. BNP Paribas is basically telling us that the court made a huge mistake, but what if it's not just one or two claims? What if this is just the tip of the iceberg?

And have you seen the bank's track record on this stuff? $8.97 billion penalty in 2014 and now they're facing another hit... it's like they're playing a game of roulette with their reputation. I'm not saying they did anything wrong, but if that's true, why weren't they more proactive about preventing these allegations in the first place?

It's just one of those things where you can't predict what's going to happen next. Will BNP Paribas appeal and lose, or will they manage to wriggle out of this? Only time will tell...

Omg, this verdict is like, super bad news for BNP Paribas their shares are tanking and it's not looking good for them in the long run I mean, they already had a major scandal in 2014 where they paid out $8.97 billion, so now this new verdict of $20.5 million is like, just another nail in the coffin . It's gonna be hard for them to recover from this and it's gonna affect their rep big time

I'm not surprised about BNP Paribas' shares taking a hit . I mean, if they're accused of helping Sudan's government commit genocide, that's pretty serious stuff . The idea that they might have to pay out billions to Sudanese refugees is just crazy . It seems like they knew something was up in 2014 when they paid $8.97 billion to settle charges related to transactions with Sudan . Now, I'm not saying BNP Paribas did anything wrong, but it's hard to trust a bank that gets into trouble over human rights issues . This verdict is just adding more fuel to the fire .

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I'm not sure why big banks like BNP Paribas can't seem to get it right when it comes to doing business with countries that have questionable human rights records... They're already paying out millions in fines, but it's clear that's not enough to keep them safe from lawsuits. I mean, if you're going to do business in a country where genocide is being committed, at least try to be transparent about it, right?

I've got a friend who works in finance and he's always saying that the only thing more expensive than paying a fine is paying for the lawyers who help you navigate the aftermath. I guess that's true this time around too... Anyway, hopefully BNP Paribas can get their act together and avoid any more financial shocks.

I've been thinking about my own DIY projects lately, like how to make a rainwater harvesting system or build a community composting program. It's amazing what you can do with a little creativity and some elbow grease...

OMG this verdict is like, super bad news for BNP Paribas! I mean, $20.5 million is just a drop in the ocean compared to what those 3 plaintiffs are gonna be asking for . And let's be real, if they're gonna bring other refugees forward, that's like, billions of dollars we're talkin' about . This verdict isn't gonna sit well with investors and it's already causing a huge drop in shares . I'm not surprised tho, BNP Paribas has been having some major issues with corporate governance and compliance for years... this just puts them right on the spot.

I'm pretty worried about this, I don't get why it's so complicated... like if someone sues you and wins, doesn't that just mean they want money from you? It seems crazy to me that BNP Paribas is going down 10% and stuff because of some court verdict. Like, what does that even mean in the grand scheme? And all these "potential future claims" are making me nervous for my own investments... I just want a clear answer, but it's all so vague . Can't we just have a straightforward explanation here?

I don’t usually comment but... I feel bad for the people affected by Sudan's genocide . A $20.5 million verdict might seem like a lot, but it's just one small part of what these refugees deserve. It's crazy to think that if over 20,000 of them can prove they were directly or indirectly harmed, they could be looking at billions in compensation .

I also don't get why BNP Paribas is so resistant to accepting its role in all this. I mean, the bank clearly made some shady deals with Sudanese entities back in the day. If it's true that the bank knew or suspected that these deals were harming innocent people, then it needs to take responsibility for its actions .

The fact that BNP Paribas is going to appeal doesn't fill me with confidence either. It just means they're probably trying to shift the blame onto someone else or avoid taking concrete steps to make things right. I hope the bank's shareholders are aware of what they're getting themselves into

I'm not surprised to see BNP Paribas shares taking a hit over this verdict . The bank's history with Sudan is already pretty checkered – remember that $8.97 billion penalty in 2014? Yeah, that was a big deal. And now this new judgment adds insult to injury. It's gonna be tough for the bank to shake off this perception of being tone-deaf when it comes to human rights issues . I'm not saying they're entirely innocent – BNP Paribas does have a responsibility to get its act together on corporate governance and compliance – but this verdict is definitely gonna make things harder for them in the long run .

This verdict is like, super bad news for BNP Paribas Their shares are already tanking and it's only gonna get worse if more people come forward with similar claims . I mean, can't a bank just do its business without getting sued over human rights issues? It's like they're stuck in the past and haven't adapted to the changing world . The $20.5M verdict is a drop in the ocean compared to the billions of dollars that could be lost if this thing spirals outta control #BNPParibasProblems #GenocideAllegations #FinancialUncertainty

omg u guyz cant believe whats happnin with bnparibas lol! 20.5 mil in damages is crazy!!! i no theyve had probs w/ sudan before, but this verdict is just wild... if there r 20000+ sudaneese refugees w/ claims then thats like billions of dollars we talkin bout! bnp paribas needs to get its act together ASAP or investors gonna lose all faith in them rn theyve already had a big fall and theres no end in sight... its like, whats next? more lawsuits? penalties? this is def not good for the banking world