Federated Hermes subsidiary sued for ~$120M over Swedish wind farm investment

FEDERATED HERMES, INC.

Aberdeen City Council Pension Fund sues Hermes GPE and General Partner over 2019 £90M Ventus wind farm investment.
Derivative claim seeks ~£87M (~$120M) for alleged diminished value; direct claim seeks ~$46M.
Federated Hermes denies allegations, says claims lack merit and will vigorously defend.
Company does not expect material adverse effect on financial position; insurance claim filed.

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