Published On: Wed, Aug 27th, 2014

HKEx And LME Update On Legal Proceedings

Charles Li CEO HKEx -

Charles Li CEO HKEx –

As disclosed in the announcements on 4 and 7 August 2013 as well as on 14 March and 13 May 2014 (collectively, the “Announcements”), Hong Kong Exchanges and Clearing Limited (“HKEx” or the “Company”), along with its subsidiaries, The London Metal Exchange (“LME”) and LME Holdings Limited (“LMEH”), were named as co-defendants in class action lawsuits filed in the United States (“US”) regarding alleged anti-competitive and monopolistic behaviour in connection with aluminium metal warehousing.

On 25 August 2014, the US District Court for the Southern District of New York (the “Court”) issued a ruling on the LME ’s motion to dismiss the pending class actions on grounds of sovereign immunity. The Court granted the LME’s motion to dismiss and dismissed all of the pending claims against it.

The Court also denied plaintiffs the ability to replead the claims against LME. The Court has not yet issued a ruling on the motions to dismiss that HKEx and LMEH have filed, and they currently remain defendants in the litigation. HKEx management continues to believe that the claims are without merit and expects to continue to contest these allegations vigorously.

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