The London Stock Exchange Group has rejected claims made in a US lawsuit accusing the bourse owner of fraud and breach of contract in its 2022 acquisition of market data solutions firm MayStreet.

MayStreet co-founder and former chief executive Patrick Flannery filed a suit against LSEG and two of its subsidiaries in May, seeking damages after the FTSE 100 firm allegedly made false promises to convince MayStreet’s owners to sell the business.