Latest news with #CrispinOdey
The Independent
25-07-2025
- Business
- The Independent
Odey High Court legal claims to be tried together, judge rules
Crispin Odey will have his multimillion pound High Court libel case against the Financial Times tried at the same time as a legal claim lodged against him by five women over denied misconduct accusations, a judge has said. The hedge fund manager is suing the publication for at least £79 million in damages over four articles published in 2023, which contained allegations he had sexually assaulted multiple women, something he denies. The FT is defending the libel claim, arguing its reporting is substantially true and in the public interest. Mr Odey is also defending separate legal action brought against him by five women over alleged misconduct between 1995 and 2023, including one who has accused him of rape. On Friday, Mrs Justice Heather Williams said it was 'incumbent on the court' to avoid the 'undesirable scenario of there being two lengthy trials' on the same issues and the 'duplication of time, effort and costs'. She said that having one trial was 'the best option, or it might be said, the least worst option' to resolve the claims. Reading out her ruling on preliminary issues in the two claims, she said that one trial would also avoid the 'highly undesirable' need for the five women, who are also witnesses in the libel claim, and Mr Odey to give evidence twice. The four articles at the centre of the libel claim were published between June and July 2023. The FT claimed in June that year that it had spoken to '13 women who said they had been abused by Odey', and in July said a further six had made allegations that he 'sexually assaulted or harassed them'. Mr Odey, who previously told the FT the allegations were 'rubbish', left his position at Odey Asset Management (OAM), the hedge fund he founded, days after they were published. OAM, which was founded in 1991, was then wound down after several banks cut ties after the accusations first came to light, although it remained a registered company. Records from Companies House, the UK's official register, showed that Mr Odey was reappointed a director of the firm in late September last year. Mr Odey was first sued by some of the women in 2023, and launched the libel claim in May 2024. In documents related to the libel battle filed at the High Court, seen by the PA news agency, Mr Odey's lawyers claimed he had suffered a 'very significant financial loss' as a result of the articles, but that he 'will limit his claim to the sum of £79 million'.
Yahoo
18-07-2025
- Business
- Yahoo
Financial Times ‘unconvinced' Odey libel claim is ‘serious', High Court told
The Financial Times (FT) is 'unconvinced' that a libel claim against it by hedge fund manager Crispin Odey is 'serious', the High Court has heard. Mr Odey is suing the publication for at least £79 million in damages over four articles published in 2023 containing allegations he had sexually assaulted multiple women, which he denies. The FT is defending the libel claim, claiming its reporting is accurate. Mr Odey is also defending a separate legal action brought against him by five women over alleged misconduct between 1995 and 2023, including one who has accused him of rape. At a preliminary hearing for both cases on Friday, Gavin Millar KC, representing the FT in the libel claim, said: 'We remain unconvinced that Mr Odey's libel claim is a serious one.' The four articles at the centre of the libel action were published between June and July 2023. The FT claimed, in June that year, that it had spoken to '13 women who said they had been abused by Odey' and, in July, said a further six had made allegations that he 'sexually assaulted or harassed them'. Mr Odey, who previously told the FT the allegations were 'rubbish', left his position at Odey Asset Management (OAM), the hedge fund he founded, days after they were published. OAM, which was founded in 1991, was then wound down after several banks cut ties following the accusations first coming to light, although it remained a registered company. Records from Companies House, the UK's official register, showed that Mr Odey was reappointed a director of the firm in late September last year. Mr Odey was first sued by some of the women in 2023, and launched the libel claim in May 2024. In documents related to the libel case filed at the High Court, seen by the PA news agency, Mr Odey's lawyers claimed he had suffered a 'very significant financial loss' as a result of the articles, but that he 'will limit his claim to the sum of £79 million'. Adam Speker KC, representing Mr Odey in the libel claim, said the allegations were of a 'gravely defamatory nature' which had caused 'very serious harm to his reputation' and 'serious distress and embarrassment'. The hearing on Friday is dealing with which of the two claims should go to trial first, but Mrs Justice Heather Williams suggested that one trial should be held dealing with both claims. She said that having two trials could see Mr Odey's alleged victims having to give evidence twice, which would be 'highly undesirable'. She said: 'We are in a position where on the face of it … one is looking at the court having two lengthy trials covering exactly the same factual allegations.' She continued: 'That is a very unsatisfactory situation from the court's point of view.' The hearing is due to conclude later on Friday, with a judgment expected at a later date.
The Independent
18-07-2025
- Business
- The Independent
Financial Times ‘unconvinced' Odey libel claim is ‘serious', High Court told
The Financial Times (FT) is 'unconvinced' that a libel claim against it by hedge fund manager Crispin Odey is 'serious', the High Court has heard. Mr Odey is suing the publication for at least £79 million in damages over four articles published in 2023 containing allegations he had sexually assaulted multiple women, which he denies. The FT is defending the libel claim, claiming its reporting is accurate. Mr Odey is also defending a separate legal action brought against him by five women over alleged misconduct between 1995 and 2023, including one who has accused him of rape. At a preliminary hearing for both cases on Friday, Gavin Millar KC, representing the FT in the libel claim, said: 'We remain unconvinced that Mr Odey's libel claim is a serious one.' The four articles at the centre of the libel action were published between June and July 2023. The FT claimed, in June that year, that it had spoken to '13 women who said they had been abused by Odey' and, in July, said a further six had made allegations that he 'sexually assaulted or harassed them'. Mr Odey, who previously told the FT the allegations were 'rubbish', left his position at Odey Asset Management (OAM), the hedge fund he founded, days after they were published. OAM, which was founded in 1991, was then wound down after several banks cut ties following the accusations first coming to light, although it remained a registered company. Records from Companies House, the UK's official register, showed that Mr Odey was reappointed a director of the firm in late September last year. Mr Odey was first sued by some of the women in 2023, and launched the libel claim in May 2024. In documents related to the libel case filed at the High Court, seen by the PA news agency, Mr Odey's lawyers claimed he had suffered a 'very significant financial loss' as a result of the articles, but that he 'will limit his claim to the sum of £79 million'. Adam Speker KC, representing Mr Odey in the libel claim, said the allegations were of a 'gravely defamatory nature' which had caused 'very serious harm to his reputation' and 'serious distress and embarrassment'. The hearing on Friday is dealing with which of the two claims should go to trial first, but Mrs Justice Heather Williams suggested that one trial should be held dealing with both claims. She said that having two trials could see Mr Odey's alleged victims having to give evidence twice, which would be 'highly undesirable'. She said: 'We are in a position where on the face of it … one is looking at the court having two lengthy trials covering exactly the same factual allegations.' She continued: 'That is a very unsatisfactory situation from the court's point of view.' The hearing is due to conclude later on Friday, with a judgment expected at a later date.
Times
02-07-2025
- Business
- Times
City regulator extends rules on bullying, harassment and violence
The City's chief regulator has extended rules on bullying, harassment and violence across the financial services sector. The Financial Conduct Authority said on Wednesday that serious incidents qualify as misconduct under its rules. Previously it was often unclear when this type of behaviour would amount to a breach of conduct rules in financial firms other than banks. The authority said the regulations will come into force for about 37,000 more regulated financial firms from September 2026. Earlier this year the regulator proposed to ban Crispin Odey, one of the biggest names in financial services, from the City and fined him £1.8 million over allegations of inappropriate office behaviour and poor governance at his company, Odey Asset Management.
Bloomberg
02-07-2025
- Business
- Bloomberg
FCA Says Bullying and Harassment Count as Workplace Misconduct
The UK's Financial Conduct Authority has clarified that serious bullying, harassment and violence in the work place qualify as misconduct at financial firms, behavior that could ultimately lead to a ban from the sector. City firms reported a 72% surge in non-financial misconduct claims over the three years to October. That survey followed several high profile scandals, including sexual assault allegations made against hedge fund manager Crispin Odey and ex- Barclays Plc 's boss Jes Staley's ties to disgraced financier Jeffery Epstein.
