Fintech Co. Must Pay £5.3M In IT Row, Fund Manager Says

Law360, London (October 1, 2019, 4:50 PM BST) -- Invesco has fought back against a claim of wrongful termination brought by a Dutch financial technology company after the fund manager pulled the plug on an IT project, arguing that the tech firm should instead be on the hook for £5.3 million ($6.5 million) in damages.

Invesco Fund Managers Ltd has denied accusations made by Ohpen Operations in a £4.7 million dispute over a shelved IT project. The fund manager, which has hit the fintech company with a counterclaim, has argued in a defense filed at the High Court on Sept. 26 that the failed project was the result of Ohpen’s “gross negligence.”

The fund manager...

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