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Kuwait pension fund says files lawsuit against UK's Man Group


(Reuters) - (PIFSS) said on Wednesday it had filed a lawsuit against and its subsidiaries.

The pension fund is seeking $156 million in compensation relating to secret contracts between Man Group and a former PIFSS between 1996 to 2013, it said in a statement.

The lawsuit was filed with the UK's Supreme Court, the fund said in the statement.

In a separate statement, Man Group said the subject matter of the PIFSS's allegations dated back "over 20 years".

"Based on the evidence we have seen to date, Man Group will dispute any claim and intends to vigorously and robustly defend any proceedings," the company said.

(Reporting by and Sinead Cruise; editing by and Ben Martin)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 09 2019. 20:01 IST