Glencore Seeks To Dismiss Stock-Drop Suit Over FCPA Probe
Law360 (February 12, 2020, 7:48 PM EST) -- Mining giant Glencore PLC told a New Jersey federal judge that his court's lack of personal jurisdiction was among the many faults that required dismissal of a stock-drop suit connected to announcements that the Swiss company's overseas dealings were being investigated.
Glencore pushed back Tuesday on a securities claims suit filed in July 2018, days after the company publicly disclosed that it had received a subpoena from the U.S. Department of Justice related to potential violations of the Foreign Corrupt Practices Act and U.S. money laundering statutes.
Investors aim to hold Glencore liable for share price drops that happened in the announcement's...
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