Man Group to fight $156m Kuwaiti lawsuit | Financial Times:
A Kuwaiti state pension fund is suing Man Group, the UK alternative investment manager, in a UK court for $156m.
The Gulf country’s Public Institution for Social Security filed the lawsuit in November, the government-run agency told Reuters in a statement.
It claimed that Man entered into “secret contracts with a former PIFSS executive between 1996 to 2013.” Its press statement did not provide any further explanation. The Kuwaiti fund could not be reached for comment.
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