Crispin Odey files defamation lawsuit against the Financial Times
City financier Crispin Odey has launched legal proceedings in a London court against the Financial Times for alleged defamation.
The claim was filed at the High Court on Wednesday, and he has enlisted City law firm Gardner Leader to represent him.
The Financial Times has not instructed a law firm yet for the case, according to court records, but the paper has used law firm RPC in similar cases in the past.
The defamation claim comes just under a year after the Financial Times published a catalogue of accusations pertaining to Crispin Odey’s sexual conduct, which the fund manager denies.
The story was built on the anonymous accounts of over a dozen women and prompted a further seven to come forward. The litany of accusations made in the report ranged from improper sexual behaviour to sexual assault, and since the story’s publication, Odey was also accused of rape in a civil court filing, all of which he has denied.
The story rocked the financial world, and plunged Odey’s eponymous firm Odey Asset Management into turmoil. Banking partners including JP Morgan Chase immediately severed ties with the firm on reputational grounds as other investors also moved to withdraw their money.
The Mayfair hedge fund, set up 32 years ago, had been one of the most renowned in London. Famed for its aggressive short positions and big bets on macroeconomic shifts, the firm made Odey one of the best-known money men in the capital.
But just five months after the Financial Times published its investigation, OAM was wound down. The firm’s other executives had hoped that ousting Odey and removing his name from the firm might stave off its collapse.
A spokesperson for the FT told City A.M.: “More than 11 months after the publication of our initial investigative news report about Crispin Odey, his lawyers recently sent us a letter of claim, and a libel claim has now been issued without waiting for our reply.”
“We have not yet been served with the claim, but our investigative journalism about Mr Odey was carefully prepared and publication was in the public interest. We stand by our reporting, and look forward to vigorously defending it,” they added.
Gardner Leader has been contacted to comment on behalf of Odey.