Legal & General Group Plc have launched a fresh lawsuit against Glencore Plc, months after the commodities giant pleaded guilty to allegations of market manipulation and bribery.
A group of Legal & General funds filed claims against Glencore on Jan. 10 at a London court, adding to the raft of lawsuits brought by investors since the company paid about $1.5 billion to settle US, UK and Brazilian probes that have hung over the company for years.
Glencore and Legal & General spokespeople declined to comment. Glencore previously said that the company has changed since the wrongdoing and is committed to operating with openness and integrity.
Miner Glencore Faces Raft of Class-Action-Style Lawsuits in UK After Admitting Bribery
Details of the claim are yet to filed or made public. In October, dozens of funds including Mubadala Investment Company and International Petroleum Investment Company filed claims at against Glencore and a group of its executives. The Financial Times reported the claim earlier.
Photograph: The offices of Allianz SE in the La Defense financial district of Paris, France, on Thursday, Oct. 7, 2021.Photo credit: Nathan Laine/Bloomberg
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