Steve Morgan, Founder and Chairman of housebuilder Redrow Plc, has won a defamation claim against the Daily Mail.
The newspaper ran a story in 2017 which said that Morgan had bought affordable homes built by Redrow at a discount and for personal gain.
During a recent case at the High Court the publishers said its allegations were wrong and agreed to publish an apology and make a charitable donation by way of damages.
The Daily Mail statement says: “An article of August 24 2017 headlined ‘Building tycoons using staff discounts to snap up homes meant for families’ said that Redrow PLC chairman Steve Morgan CBE had made a very large personal gain by buying 6 houses – built by Redrow as affordable homes – for £860,000, a substantial discount to their market value of £2.1m. In fact, £860,000 was the highest offer made, so we were wrong to allege that Mr Morgan had exploited his position to line his pockets in a greedy, unethical and morally unacceptable way. He did not buy the houses at a discount to their market value, and they are being rented out to local residents in accordance with affordable housing criteria. We apologise to Mr Morgan for the distress and damage to his reputation and, at his request, have made a substantial donation to charity in lieu of damages.”
Morgan seems an unlikely property tycoon at which to level such a case, being a well known philanthropist – something which earned him a CBE in 2016. The Steve Morgan Foundation which he founded in 2001 has provided many millions of pounds of support to charity over the years, including a recent £3m grant to JDRF for diabetes research.