Barclays, the first bank to settle with authorities over alleged manipulation of the Libor interest rate, on Monday won the dismissal of a U.S. lawsuit by shareholders who claimed they lost money because of the British bank's activity.
Reuters reports that U.S. District Judge Shira Scheindlin in Manhattan said investors who owned Barclays' American depositary shares did not show that Barclays and other defendants, including former Chief Executives John Varley and Bob Diamond, misled them about Libor or took too long to reveal potential liabilities.
She also said the investors failed to show that alleged Libor manipulation between August 2007 and January 2009 caused them to lose money through June 2012, when Barclays reached a $453m settlement with U.S. and European regulators.
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