Elliott Says LME Failed to Disclose Documents in Nickel Case
- Elliott restarts UK fight court with London Metal Exchange
- Appeal to rake over decision to cancel $12 billion of trades
Hedge fund Elliott Investment Management renewed its legal fight with the London Metal Exchange over the 2022 nickel crisis, saying that the exchange failed to disclose crucial documents that show how it could have responded to the runaway short squeeze.
Elliott argued in the Court of Appeal on Tuesday that the exchange’s boss ignored the role of his own monitoring teams before he took the “unprecedented and momentous” decision to cancel billions of dollars of nickel trades.