StanChart argues for cutting ‘systemic’ sanctions busting claims from lawsuit

Standard Chartered sought on Tuesday to persuade a London court to remove from an investor lawsuit allegations that it broke U.S. sanctions against Iran in a "more widespread and systematic" way than the bank admitted to in a settlement with regulators. More than 200 investors are suing Standard Chartered in the High Court for alleged untrue or misleading statements about its sanctions non-compliance between 2007 and 2019. They are relying in part on earlier claims made in a U.S. lawsuit brought by a company called Brutus Trading, which was dismissed earlier this year on appeal.