Markets
LME Faces Suit from Funds Including AQR Over Nickel Crisis
- AQR joined by DRW Commodities, Capstone and Flow Traders
- LME says action is without merit and will oppose application
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The London Metal Exchange faces a lawsuit from a group of firms including hedge fund AQR Capital Management LLC over its decision to cancel billions of dollars worth of trades after a runaway short squeeze in nickel.
AQR, DRW Commodities LLC, Flow Traders BV, Capstone Investment Advisors LLC, Winton Capital Management Ltd. filed a commercial court claim in London against the LME, according to court records made public this week.