Home / Crime and Justice / Odey Drops £79M Libel Suit Against FT
Odey Drops £79M Libel Suit Against FT
11 Apr
Summary
- Financier Crispin Odey has withdrawn his £79 million libel lawsuit.
- The lawsuit targeted the Financial Times over sexual assault allegations.
- Odey cited the stress of a recent tribunal as a reason for withdrawal.
Financier Crispin Odey has dropped his £79 million High Court libel claim against the Financial Times concerning articles published in 2023. These articles alleged that Odey had sexually assaulted multiple women, claims he vehemently denies. The Financial Times was prepared to defend its reporting, asserting its truth and public interest.
Odey's legal team informed the newspaper of his decision, citing the considerable stress and strain of a recent three-week Upper Tribunal trial. He expressed a desire to avoid another costly and lengthy trial, even with his belief in ultimately succeeding in demonstrating he is not a 'violent predator.'
The Financial Times had previously served Odey with substantial evidence related to its investigations. The newspaper's editor hailed the withdrawal as a victory for investigative journalism and the victims. Odey's firm, once one of Europe's largest hedge funds, announced plans to close in October 2023, the same year the contentious articles were published.
