Standard Chartered (LSE:STAN) saw its shares climb 3.6% in London trading Friday at 08:10 GMT following the U.S. Department of Justice’s (DOJ) dismissal of claims from two whistleblowers alleging mishandling of an investigation into potential sanctions violations by the bank.

The British lender issued a statement late Thursday, saying it was “pleased and unsurprised” with the result, referencing a DOJ filing. The bank noted that the filing confirmed that “the claims underlying this case are false.”

According to the Times, the DOJ’s filing recommended that the appeal court uphold an earlier decision, describing the fraud accusations against the government as “entirely unfounded.”

Despite this outcome, Standard Chartered and several other banks remain defendants in lawsuits brought by members of the U.S. armed forces and their families, who allege involvement in terror financing.

The matter drew political attention earlier this month when the bank’s stock dropped on August 15, following a call from Representative Elise Stefanik for an inquiry into Standard Chartered for allegedly enabling “illicit payments to known terrorists.” Stefanik also criticized New York Attorney General Letitia James for not pursuing the issue.

Stefanik further urged Attorney General Pam Bondi to ensure the case did not expire on August 19, asserting that the bank had processed at least $9.6 billion in illicit payments and claiming that China had used Standard Chartered to buy sanctioned Iranian oil.

Standard Chartered had previously acknowledged in 2012 that it facilitated dollar transactions for Iranian clients in violation of U.S. sanctions and banking rules. The lender reached a deferred prosecution agreement with the Justice Department over the transactions, which the government said occurred between 2001 and 2007.

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