Bloomberg Law
Aug. 14, 2015, 9:17 PM UTC

Arab Bank Settles Hamas Terror Case

Bloomberg Media

By Erik Larson, Bloomberg News

Arab Bank Plc settled a U.S. lawsuit with hundreds of terror victims who accused it of financing a wave of violence that killed or wounded Americans in Israel in the early 2000s.

The agreement avoids the damages phase of a trial that would have been a painful exercise to calculate the human cost of terrorism.

“The parties have reached an agreement to settle the litigation,” plaintiffs lawyer Michael Elsner, of the law firm Motley Rice LLC said in a statement. “The framework will be finalized over the next few months.”

The lender’s financial services were ...

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