Natixis, H2O Face €717 Million Suit from Angry Investors.

H2O Asset Management and its former owner, Natixis SA, are facing a €717 million ($785 million) lawsuit in France over losses related to illiquid investments at the fund boutique. The lawsuit was filed by a group of investors, including over 6,000 professional and individual investors, who also named Natixis Investment Managers, KPMG, and Credit Agricole SA's CACEIS as defendants. The scandal at H2O, which began in 2019, involved investments in illiquid securities linked to German financier Lars Windhorst, resulting in clients being unable to retrieve their funds. Natixis has since reduced its stake in H2O, and the French markets regulator and the UK's Financial Conduct Authority have taken action against the firm. [Extracted from the article]