Natixis Faces €717 Million Suit from Disgruntled H2O Investors.

Natixis SA, a French bank, is facing a lawsuit from investors seeking €717 million ($785 million) in relation to losses incurred at its former fund boutique, H2O Asset Management. The investors have filed the lawsuit against Natixis Investment Managers, H2O, KPMG, and Credit Agricole SA's CACEIS. The scandal at H2O arose in 2019 when investments in illiquid securities linked to German financier Lars Windhorst prevented some clients from accessing their funds. H2O was fined €75 million by France's markets regulator, and the UK's Financial Conduct Authority is also investigating. Natixis has reduced its stake in H2O since the scandal. [Extracted from the article]