Lawyers for the Norfolk Pension Fund, which is run by Norfolk County Council, secured an £86.4m settlement after a lawsuit launched against Texas-based energy company Anadarko Petroleum.

The pension fund, which contains the retirement savings of some 109,000 people across Norfolk who work or used to work in local government, had bought stock in the company between February 2015 and May 2017.

But the value of stocks fell and the lawsuit alleged Anadarko Petroleum had made false or misleading statements around an oil field the company had discovered.

It also claimed it failed to disclose material facts about its business and operations.

The company did not accept liability,........

© Eastern Daily Press