Crispin Odey, the former hedge fund manager and founder of Odey Asset Management, has indicated he may pursue settlements with five women bringing civil claims against him over alleged sexual misconduct, ahead of a scheduled High Court trial in London, according to a report by the Financial Times.
The personal injury proceedings, which include allegations of sexual assault and one claim of rape, are due to be heard in June. Speaking to reporters following the conclusion of a separate court hearing challenging sanctions imposed by the UK regulator, Odey said settlement discussions were a possibility, noting, “we might do” when asked about resolving the claims. He added that, while the trial is currently expected to proceed, “we’ll see.”
Legal representatives for the claimants declined to comment on potential settlement discussions.
Any pre-trial resolution would add to a series of legal and reputational setbacks for Odey, who recently withdrew a £79 million libel action against the Financial Times after acknowledging it was likely to fail.
The civil claims form part of a wider set of legal and regulatory challenges facing the hedge fund veteran. Earlier this week marked the final day of his separate appeal against a Financial Conduct Authority decision to impose a ban and financial penalty. The tribunal proceedings have included extensive testimony relating to historical misconduct allegations, as well as claims of governance failures and inappropriate workplace behaviour during his tenure at Odey Asset Management.
During the hearings, evidence was presented alleging a pattern of misconduct within the firm, while Odey himself acknowledged in cross-examination that he had previously grabbed a former employee without consent.
Odey has strongly contested aspects of the regulatory case, arguing that sexual misconduct allegations have been used to prejudice proceedings unrelated to the core regulatory issues. His legal counsel described the inclusion of such material as “a sideshow” and argued that context had been omitted from public allegations.
The Financial Conduct Authority, however, has maintained that Odey’s conduct demonstrated a lack of candour and inappropriate behaviour in dealings with both the regulator and his former firm, including attempts to influence internal governance decisions.
A ruling from the Upper Tribunal is expected later this year.
