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Glencore Wins Judge’s Approval of Market Manipulation Settlement

Glencore Wins Judge’s Approval of Market Manipulation Settlement

A federal judge has accepted part of a $1.2 billion settlement that commodities giant Glencore PLC entered to resolve criminal probes over its involvement in foreign corruption and market manipulation. A plea deal that Glencore’s U.S. arm entered with Connecticut federal prosecutors received approval from U.S. District Judge Sarala V. Nagala at a sentencing hearing Friday in New Haven federal court, according to a spokesman for the prosecutors. Friday’s proceeding focused solely on the market manipulation component of the resolution.