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BREAKING NEWS / URGENT: The State Supreme Court upholds Act 10, Voter ID, and the state's domestic partnership registry

MADISON, Wis (WSAU)  - The Wisconsin State Supreme Court upheld Act 10, the state law that limits the collective bargaining rights of state employees. The law from three years ago sparked protests at the state capital and led to the recall attempt against Governor Scott Walker. The court's ruling in favor of Act 10 was 5-2. Justice Michael Gableman wrote the lead opinion, which was also signed by Justices David Prosser, Pat Roggensack and Annette Ziegler. Justice Patrick Crooks concurre...

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HSBC agrees $62.5 million Madoff lawsuit settlement

The HSBC building is seen on Canary Wharf in London
The HSBC building is seen on Canary Wharf in London

LONDON (Reuters) - HSBC said it agreed to pay $62.5 million to settle a class action brought against it in the United States over its role in providing administrative services to a fund which placed cash with Wall Street swindler Bernard Madoff.

The action was brought by investors in Thema International Fund, which transferred a net $312 million to Madoff, Europe's biggest bank said on Tuesday.

Madoff is serving a 150-year prison sentence after pleading guilty in March 2009 to orchestrating what is considered to be the biggest Ponzi scheme in history.

HSBC said it continued to "vigorously" defend itself in other Madoff-related proceedings brought against it and its subsidiaries.

(Reporting by Myles Neligan; Editing by David Holmes)

(This story is corrected in headline and first paragraph to make clear HSBC agrees to pay, not had paid)

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