January 9, 2019 / 11:51 AM / in 6 months

Kuwait pension fund says files lawsuit against UK's MAN Group

Jan 9 (Reuters) - Kuwait’s Public Institution for Social Security (PIFSS) said on Wednesday it had filed a lawsuit against UK asset manager MAN Group Plc and its subsidiaries.

The pension fund is seeking $156 million in compensation relating to secret contracts between MAN Group and a former PIFSS executive between 1996 to 2013, it said in a statement.

The lawsuit was filed with the UK’s Supreme Court, the fund said in the statement. (Reporting by Hadeel Al Sayegh; editing by Jason Neely)

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