US civil litigation – response to favourable court ruling

London - We are providing a response to a recent court ruling in favour of Standard Chartered in a previously disclosed US civil litigation case. This ruling relates to a 31 May 2024 attempt by the plaintiff to reopen a previously dismissed US civil litigation case initially filed in 2018 (U.S., ex rel. Brutus Trading, LLC v. Standard Chartered Bank (1:18-cv-11117)). The plaintiff behind this case has been unsuccessfully pursuing similar claims against the Bank since 2012.

"The plaintiff's allegations were, as the court has confirmed, unequivocally baseless. The claims were part of a more than decade-long effort by a former employee and his associates to use fabricated claims against the Bank for their own personal financial gain. The US Government long ago concluded that there was no merit to these accusations of sanctions violations. Now, once again, a court has firmly rejected them. Plaintiff's various arguments in this case have been described by the courts as 'the verge of vexatious and frivolous', 'without merit' and falling 'far short'. Any further attempts to seek to profit from fabrications and to damage our reputation will be defended most vigorously."

For further information please contact:

Shaun Gamble
Group Media Relations
+44 7766 443662

Lauren Verner
Group Media Relations
+44 7500 826 143

Standard Chartered

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