Ex-trader dismissed over Libor sues Lloyds

Pointing The Finger

A former trader at Lloyds Banking Group who was among eight people dismissed after the bank's settlement for alleged manipulation of Libor interest rates is suing the bank for unfair dismissal, a court document showed.

Reuters reports that the hearing for John Argent will start on October 5, according to a schedule for a London employment tribunal released on Wednesday.

Lloyds was fined $370m in July 2014 by U.S. and British authorities for alleged manipulation of Libor and other interest rates.

The bank, which is part-owned by the British government, subsequently opened an investigation into its traders' behaviour and said in September 2014 it had fired eight employees.

To access the complete Reuters article hit the link below:

Former trader sues Lloyds for unfair dismissal after Libor probe

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