Federal Judge Dismisses Libor Manipulation Suit Against Barclays, Others

NEW YORK - Lead plaintiffs in a securities class action lawsuit against Barclays PLC and certain of its subsidiaries and former executive officers have failed to plead any material misrepresentations or loss causation in arguing that the defendants violated federal securities law by engaging in a scheme to manipulate the London Interbank Offered Rate (Libor) interest rate, a federal judge in New York ruled May 13 (Vladimir Gusinsky, as Trustee for the Vladimir Gusinsky Living Trust, v. Barclays PLC, et al., No. 12-5329, S.D. N.Y.).

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