Libyan sovereign wealth fund files lawsuit against JPMorgan Chase

In 2016 the fund lost its legal battle against Goldman Sachs after a seven-week trial relating to nine equity derivatives trades.

  
Image used for illustrative purpose. A view of the exterior of the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City, May 20, 2015. Private U.S. litigation accusing banks of rigging a key interest rate benchmark

Image used for illustrative purpose. A view of the exterior of the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City, May 20, 2015. Private U.S. litigation accusing banks of rigging a key interest rate benchmark

REUTERS/Mike Segar

LONDON- Libya's sovereign wealth fund has filed a lawsuit against JPMorgan Chase in a London court, a spokesman for the Libyan Investment Authority (LIA) said on Monday.

Details of the lawsuit were not disclosed and a spokeswoman for JPMorgan declined to comment.

The LIA has previously brought lawsuits against two other investment banks in London courts, relating to trades carried out during the rule of Muammar Gaddafi.

In 2016 the fund lost its legal battle against Goldman Sachs GS.N after a seven-week trial relating to nine equity derivatives trades.

But in May 2017 Societe Generale agreed to pay the LIA nearly 1 billion euros ($1.2 billion) to settle a long-running dispute. ($1 = 0.8146 euros)

(Reporting by Claire Milhench Editing by David Goodman ) ((claire.milhench@thomsonreuters.com; +44 (0)207 542 3571; Reuters Messaging: claire.milhench.thomsonreuters.com@reuters.net))

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