LONDON—The London Metal Exchange chalked up a big victory over investors on Wednesday, when a court said it was within its rights to
cancel trades during a high-profile blowup in the nickel market sparked by Russia’s full-scale invasion of Ukraine.The U.K. court rejected claims by activist fund Elliott Investment Management and market maker Jane Street Global Trading that the exchange had overstepped its powers by nixing $12 billion in trades in March last year. Had they won, Elliott and Jane Street planned to claim hundreds of millions of dollars in damages combined in a follow-on trial.
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Investors Lose Legal Bid Against Exchange Over Nickel Market Blowup - The Wall Street Journal
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