Standard Chartered PLC Sees Share Price Increase Following US Department of Justice Ruling

Standard Chartered PLC’s share price has risen by over 3% following a favorable ruling from the US Department of Justice. The bank was cleared of allegations of sanction violations, with the Department of Justice filing stating that the claims underlying the case are false.

The US Department of Justice filing stated that the claims against Standard Chartered PLC are unfounded. Key points from the filing include:

• The Department of Justice has determined that the allegations against the bank are without merit.
• The claims underlying the case are false.
• The bank has been cleared of any wrongdoing related to sanction violations.

The favorable ruling has contributed to improved market performance for Standard Chartered PLC. The bank’s shares have also been supported by the overall resilience of the equity market, with investors rotating capital into undervalued international financials.