BNP just dropped out of nowhere, subprime fund freeze rumors are flying, and traders are panicking

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Shares in BNP Paribas fell to a six-month low on Monday after the French bank lost a case linked to its alleged role in giving the Sudanese government access to international money markets during the Darfur genocide roughly two decades ago.

A New York federal jury on Friday found the French lender liable to pay $20.75 million in civil damages to three Sudanese plaintiffs in a class action lawsuit brought on behalf of refugees who fled violence and persecution and testified about human rights abuses under former President Omar al-Bashir.

They alleged that BNP Paribas facilitated transactions for the Sudanese government between 2002 and 2008, enabling the regime’s campaign of ethnic cleansing, displacement and mass killing, according to their lawyers.

BNP Paribas said Monday that it intends to fight the case.

https://www.morningstar.com/news/dow-jones/202510203059/bnp-paribas-shares-drop-after-us-verdict-over-alleged-role-in-sudan

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