Standard Chartered on Tuesday lost a bid to halve the value of a roughly 1.5 billion-pound ($1.94 billion) London lawsuit brought over allegations the lender broke U.S. sanctions against Iran in a more widespread way than it has previously admitted.
More than 200 investors are suing Standard Chartered (STAN.L) at London’s High Court for allegedly untrue statements about its sanctions non-compliance between 2007 and 2019.
The lawsuit came after the London-based bank agreed to pay $1.1 billion in 2019 to U.S. and British authorities over transactions which breached sanctions against Iran and other countries.
