Barclays Accused, Nomura Faces Appeal, UBS Pays Up

Barclays has been named in a lawsuit filed in California seeking damages for its role in Hewlett-Packard's disastrous takeover of Autonomy.

The Daily Telegraph reports that Barclays has been accused of putting its own self interest ahead of its clients, in a shareholder lawsuit filed in California relating to Hewlett-Packard’s disastrous purchase of Autonomy.

'HP’s financial advisor, Barclays, was conflicted in advising the board while simultaneously underwriting the financing of the deal', the lawsuit states.

In the meantime, Bloomberg reports that Siena prosecutors are seeking to overturn a judge’s ruling that rejected their request to seize assets held by Nomura as part of an inquiry into Banca Monte dei Paschi di Siena SpA’s use of derivatives to hide losses.

They are seeking authorization from the appeals court to seize as much as $2.6bn of Nomura assets, as well as funds belonging to former managers of the Italian lender.

Finally, Reuters reports that Bond insurer Assured Guaranty has said it reached a settlement with UBS in a lawsuit that accused the bank of falsely representing the quality of the loans underlying $1.49bn of mortgage-backed securities.

UBS will pay Assured $358m in an initial cash payment, the bond insurer said. The two companies have also entered into loss-sharing agreement on future claims, which will take effect from the third-quarter.

Barclays Capital accused in Autonomy lawsuit

Paschi Prosecutors File Appeal to Seize Nomura Assets in Probe

Assured says to be paid $358 million as it settles UBS suit

image: © bloomsberries

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