(Adds details of filing, background)
LONDON, March 7 (Reuters) - The London Metal Exchange
(LME) faces further legal action in London, court filings showed
on Tuesday, without giving further details of the move by a
company called Double Eight Ltd.
The LME faced two fresh lawsuits, filings showed on Monday,
from ten hedge funds and asset managers after it enraged
investors last year by cancelling nickel trades.
The world's largest and oldest metals market annulled
billions of dollars of trades after chaotic price action, and
suspended trading for the first time since 1988.
The nickel cancellations took place on March 8, 2022 and the
wave of legal filings was due to a one-year time limit
approaching for claims that allege the LME violated the Human
Rights Act, a source close to the situation told Reuters.
Double Eight is a private financial company based in England
that deals in securities, according to UK company filings.
No court documents were immediately available showing why
Double Eight was taking action against the LME, which is owned
by Hong Kong Exchanges and Clearing Ltd .
There was no immediate comment from the LME.
(Reporting by Eric Onstad, Editing by Louise Heavens and
Alexander Smith)
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