F&C law suit wipes out a year's worth of cost cuts

The High Court has ruled in favour of two former employees of F&C, resulting in a payout of up to £13.9m from the London-based asset manager

After a tumultuous beginning 2011, F&C looked like getting back on the track, but a court settlement to two disgruntled hedge fund employees has damaged the firm’s cost-cutting mission.

A High Court judgement yesterday will force F&C to pay out a possible £13.9m, as a result of a successful case made by two founding members of its fund of hedge fund arm.

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