Hedge fund manager Crispin Odey is seeking at least £79 million in damages from the Financial Times (FT) after suing the publication for libel, documents filed at the High Court show. Mr Odey began legal action against the FT in May over four articles published in 2023, which contained allegations that he had sexually assaulted multiple women.
The accusations led to Mr Odey leaving his position at Odey Asset Management (OAM), the hedge fund he founded, days later, although he has since returned to the firm. Five women are separately suing him over alleged misconduct between 1995 and 2023. The claimant has suffered very serious harm to his reputation as a result of the publication of the articles complained of and is likely to continue to do so until he achieves vindication through these proceedings.
Mr Odey has previously denied the allegations against him, telling the FT they were “rubbish”. The paper said in May that it would be “vigorously defending” its reporting. In documents related to the libel battle filed at the High Court, seen by the PA news agency on Monday, Mr Odey’s lawyers claimed he had suffered a “very significant financial loss” as a result of the articles, but that he “will limit his claim to the sum of £79 million”.
Adam Speker KC, for Mr Odey, said: “The articles complained of made allegations against the claimant of a gravely defamatory nature, including allegations of clearly criminal conduct.”. He continued: “The claimant has suffered very serious harm to his reputation as a result of the publication of the articles complained of and is likely to continue to do so until he achieves vindication through these proceedings.”.
