London-listed spread betting operator London Capital Group (LCG) has settled a lawsuit filed by insurance consultancy Life Settlement Consulting over the termination of a fee-sharing agreement relating to a managed foreign exchange fund, paying £350,000 towards the claimant’s legal expenses.

“LCG has always maintained that the claim was without merit and I am therefore pleased that Integrity has withdrawn all claims,” LCG chief executive Kevin Ashby commented. “We have agreed to make a contribution towards Integrity's costs as part of the settlement which avoids further legal costs should the case have continued to a final judgement.”

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