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Rolls-Royce facing £350m class action lawsuit from investors

 Rolls-Royce, the FTSE 100 engineering giant, is facing a potential legal
claim from investors worth at least £350m after a bribery and corruption
scandal wiped millions of pounds from the company’s value. City lawyers
are working with a group of investors seeking compensation from Rolls-Royce
after the bribery allegations rocked the aircraft engine maker in 2017.

Shareholders are to claim that the company made misrepresentations to the
market about the bribery scandal. Rolls-Royce previously agreed to a £497m
settlement with the Serious Fraud Office (SFO) in a bid to draw a line
under the wrongdoing. The SFO’s agreement with Rolls-Royce in 2017
covered “12 counts of conspiracy to corrupt, false accounting and failure
to prevent bribery” across its aerospace and energy divisions.

Telegraph 22nd Oct 2023

https://www.telegraph.co.uk/business/2023/10/22/rolls-royce-face-350m-lawsuit-investors/

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October 24, 2023 - Posted by Christina Macpherson | secrets,lies and civil liberties, UK