BNP Paribas reassures investors about limited exposure to Sudan-related litigation, but shares drop after U.S. jury finds bank helped Sudan’s government commit genocide. Court orders bank to pay $20.5 million to three Sudanese plaintiffs, raising concerns about potential further claims. Analysts express doubts despite CFO’s efforts to calm fears.

Chief Financial Officer Lars Machenil believes Swiss law applies in the case, offering potential protection for the bank. Analysts warn of uncertainty around potential broader claims and share price impact until more clarity emerges from BNP’s appeal. Trader notes highlight more questions than answers from CFO’s comments, leaving doubts unresolved.

Machenil downplays risks of class action, calling it a “case by case” issue with no precedent set for similar cases. He states verdict only concerns three plaintiffs and does not establish a legal basis for broader claims. He suggests individual compensation claims would require separate trials, unsure of additional plaintiffs or appeal timeline.

Three Sudanese plaintiffs open door for more than 20,000 Sudanese refugees in the U.S. to seek billions in damages from BNP Paribas. Judge severs three victims from class action due to disputes among plaintiffs’ lawyers over ethics, but reappoints them as class representatives before trial. Bank clarifies current litigation unrelated to 2014 sanctions violation case.

Read more at Yahoo Finance: BNP struggles to dispel Sudan litigation concerns as shares drop