Former hedge fund manager Crispin Odey has chosen to abandon his £79m libel claim against the Financial Times over its reporting of sexual misconduct allegations against him.
A letter sent by Odey's lawyers on Friday (10 April) stated that he had been "forced to accept" that the newspaper was "likely to succeed in establishing" its public interest defence. "Having just endured the stress and strain of a three-week trial in the Upper Tribunal, he does not wish to pursue another lengthy trial at considerable cost, only to fail on the issue of public interest, even if he was successful, as he believes he would be, in demonstrating that he is not the violent predator he was presented as being in the articles," Odey's lawyers wrote. Having launched the libel cl...
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