Crispin Odey Withdraws £79 Million Libel Claim Against Financial Times

Crispin Odey, a former hedge fund manager, has withdrawn his £79 million libel claim against the Financial Times (FT) concerning its reporting on multiple sexual misconduct allegations against him. The allegations, detailed in articles published in 2023, involved testimonies from 20 women spanning five decades, accusing Odey of sexual assault and harassment. Despite previously denying these allegations, Odey’s legal team stated that he was “forced to accept” the likelihood of the FT succeeding in its public interest defense.

The Guardian

The allegations against Odey led to significant repercussions for his career. Following the reports, he was removed from Odey Asset Management, a firm he founded in 1991 that was once among Europe’s largest hedge fund companies. The firm announced plans to close in October 2023. In March 2025, Odey faced a provisional ban from the UK financial services industry and was fined £1.8 million by the Financial Conduct Authority (FCA) for a “lack of integrity” and for attempting to “frustrate” a disciplinary process regarding the allegations.

The Guardian

Odey’s decision to drop the libel claim came after a three-week trial in the Upper Tribunal, where he contested a decision by the FCA to ban him from the financial services sector. His lawyers indicated that the stress of the trial and the potential costs of pursuing another lengthy legal battle influenced his choice. Odey expressed a belief that he could demonstrate he is not the “violent predator” depicted in the FT's articles, but opted to avoid further litigation.

The Guardian

The FT defended its reporting by citing the willingness of 15 women to testify in court regarding their experiences. FT editor Roula Khalaf remarked that Odey’s withdrawal is a “vindication for investigative journalism and for the victims whose stories of abuse we reported.” She emphasized the newspaper's confidence in its reporting, stating, “This is a case that should have never been brought.”

The Guardian

Critics of Odey’s actions have highlighted the broader implications of his case, particularly regarding accountability in the financial sector. The FCA's assessment of Odey as “not a fit and proper person to perform any function” reflects ongoing concerns about the treatment of sexual misconduct allegations within powerful industries.

The Guardian

While the FT has maintained confidence in its reporting, Odey’s legal team has consistently denied the allegations, creating a dichotomy in public perception. The withdrawal of the libel claim does not resolve the underlying allegations, which continue to impact Odey’s reputation and career.

The Guardian

The legal proceedings related to Odey’s ban from financial services are set to resume in May 2026, where both sides will present closing arguments. The outcome of this case may further influence discussions around accountability and transparency in the financial industry.

The Guardian