On 23 May 2014, Hong Kong Exchanges and Clearing Limited (“HKEx” or “Company”) and its subsidiaries, The London Metal Exchange (“LME”) and LME Holdings Limited (together, the “Subsidiaries”) were named as co-defendants in a class action filed in the United States District Court for the Southern District of New York. The complaint alleges anti-competitive and monopolistic behaviour in the warehousing market in connection with zinc prices. HKEx and LME management’s initial assessment is that the lawsuit is without merit and HKEx and the Subsidiaries will contest it vigorously.
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