Financial Times settles lawsuit with broker
The Financial Times newspaper has settled a libel lawsuit with a broker that sued it, agreeing to pay damages and legal fees to the broker.
This Reuters story reads in part:
“Collins Stewart had sued the FT over its 2003 coverage of allegations by former equity analyst James Middleweek, who accused the brokerage of regulatory breaches in a document he sent to the financial watchdog.
“Collins Stewart’s legal counsel Rod Christie-Miller, reading from a statement, said: ‘The Financial Times is happy to clarify that it did not ever endorse Mr Middleweek’s allegations and apologises for any impression to the contrary that may unintentionally have been given.’
“‘The Financial Times has agreed to pay substantial damages and legal costs to Collins Stewart, and to publish an apology to that effect on the front page of the ‘Companies and Markets’ section of its newspaper,’ Christie-Miller said.”
Here is the FT statement.