London Metal Exchange sued for US$456mil

“The LME management is of the view that the claim is without merit and the LME will contest it vigorously,” it said in the statement.

LONDON: The London Metal Exchange (LME) is being sued for US$456mil (RM2bil) over its decision to halt and undo trading in nickel after a short squeeze in March caused prices to sky rocket.

The exchange is being sued by Elliott Associates, LP and Elliott International, LP in a case filed in the English High Court on June 1, according to a statement issued by Hong Kong Exchanges & Clearing Ltd, its parent company.