Glencore faces fresh UK lawsuit in the wake of bribery scandal

17th February 2023

By: Bloomberg


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Legal & General Group Plc have launched a fresh lawsuit against Glencore, 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. A Spokesperson for and Northern Trust did not immediately respond to an email and call requesting comment.

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.

Edited by Bloomberg


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