Financier Crispin Odey has discontinued his £79 million libel claim against the publisher of the Financial Times (FT) over its reporting of sexual misconduct allegations against him.
The action was brought by Mr Odey over articles published in 2023 alleging sexual assault and harassment by him over a number of decades.
Mr Odey claimed general damages and £79 million in special damages.
The FT pleaded defences of truth (under s. 2 Defamation Act 2013) and publication on a matter of public interest (under s. 4 Defamation Act 2013).
In support of the truth defence, the FT pleaded the accounts of fifteen women who alleged sexual assault and/or harassment by Mr Odey. Five of these women are also pursuing personal injury claims against him based on their allegations.
A joint trial of liability in the libel claim and in the five personal injury claims was due to commence in June 2026 before Cavanagh J.
Notifying the FT of the discontinuance, Mr Odey indicated his acceptance that, considering the FT’s extensive disclosure, its s. 4 defence was likely to succeed. He maintains that the allegations against him are untrue.
Clara Hamer (led by Gavin Millar KC) was junior counsel for the FT, instructed by RPC.
Adam Speker KC and Gervase de Wilde acted for Mr Odey in the libel claim, instructed by Child & Child.
Press coverage: Financial Times