Bloomberg News reports that Andrew Reed, who inputted the bank’s submissions to the yen London interbank offered rate, will have his case heard at a London employment tribunal on September 16, according to the court schedule. He was fired a year ago after Lloyds was fined about $345m by U.S. and U.K. regulators. The bank is contesting the claim.
The case is one of a spate of unfair-dismissal lawsuits to reach London courts in recent weeks following investigations at the world’s biggest banks into the rigging of foreign-exchange markets and benchmarks related to Libor. Some of the individuals were fired because of alleged behaviour unrelated to manipulation that their employers say they discovered as a result of internal inquiries.
'We consider this claim to be entirely without merit and it will continue to be vigorously defended', Lloyds spokesman Ian Kitts said by e-mail.
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