Glencore faces lawsuits in UK following bribery charges
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Swiss commodity trading company Glencore PLC is facing a raft of class-action lawsuits from investment and pension funds, including U.A.E.-based Mubadala Investment Company at a London court, months after it pleaded guilty to market manipulation and bribery, Bloomberg reported. Glencore in May pleaded guilty to a range of charges ranging from bribery and corruption in South America and Africa to price manipulation in the U.S. fuel-oil markets and paid more than $1 billion in fine.
