Crispin Odey Drops Libel Claim Against Financial Times

Former hedge fund manager Crispin Odey has dropped a £79 million libel claim against the Financial Times regarding the publication’s reporting on allegations of sexual misconduct. The decision, announced on April 10, 2026, ends a high-stakes legal battle over articles published by the newspaper in 2023.

The reporting in question involved several articles detailing allegations of sexual assault and harassment made by 20 women. These allegations spanned a period of five decades. While Mr. Odey, 67, has consistently denied the claims, he has now acknowledged that the Financial Times would likely prevail in court.

Mr. Odey originally filed the libel claim in May 2024, and a trial had been scheduled for later in the summer of 2026. However, on April 10, 2026, the Financial Times revealed that lawyers for the former hedge fund tycoon had sent a letter stating he had been forced to accept that the newspaper was likely to succeed in establishing its public interest defence.

As part of its defence, the Financial Times stated it had identified 15 women who were willing to testify in court regarding their allegations. This group included three women whose accounts had not been previously reported in the publication’s articles.

This represents a vindication for investigative journalism and for the victims whose stories of abuse we reported. The FT was always confident in its reporting. This is a case that should have never been brought.

Roula Khalaf, Editor of the Financial Times

Legal Challenges with the Financial Conduct Authority

The decision to abandon the libel suit follows a separate and demanding legal process involving the Financial Conduct Authority (FCA). In March 2026, Mr. Odey underwent a three-week trial at the Upper Tribunal in London, where he faced hours of cross-examination.

This trial was brought by Mr. Odey to challenge a decision by the FCA, the City regulator, to ban him from the financial services industry. During the proceedings, the court heard numerous allegations against him, though he has maintained his innocence throughout the process.

The Upper Tribunal case was heard before Mr Justice Thompsell, Upper Tribunal Judge Jones, and Upper Tribunal member Cathy Farquharson. The proceedings are scheduled to return in May 2026 to allow lawyers from both sides to close their cases, and the tribunal is currently awaiting judgment.

Lawyers for Mr. Odey indicated that the physical and mental toll of the FCA proceedings influenced his decision to drop the lawsuit against the Financial Times. In a statement released on April 10, 2026, his legal team explained the rationale behind the withdrawal:

Having just endured the stress and strain of a three-week trial in the Upper Tribunal, he does not wish to pursue another lengthy trial at considerable cost, only to fail on the issue of public interest, even if he was successful, as he believes he would be, in demonstrating that he is not the violent predator he was presented as being in the articles.

Lawyers for Crispin Odey

Despite dropping the claim, Mr. Odey now faces significant financial repercussions. The Financial Times stated that he is liable for a seven-figure sum to cover the publication’s legal costs, in addition to his own legal expenses.

A representative for Mr. Odey was approached for comment regarding the withdrawal of the claim and the associated costs.