Red Kite, the world’s best-known metals hedge fund, reached a settlement with Barclays Plc over claims traders at the bank engaged in abusive trading and manipulated global copper prices on the London Metal Exchange.
The two parties have agreed to a confidential settlement, according to a statement from Red Kite. In the lawsuit, the hedge fund said the actions by Barclays traders cost it at least $850 million between 2010 and 2013. A spokesman for Barclays wasn’t immediately able to comment.
The lawsuit has been closely watched in the metals market and legal circles. Many were awaiting the outcome of ...
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