Mealey's Litigation Procedure - 2nd Circuit Revives Libor Claims Against Barclays

Mealey's Litigation Procedure - 2nd Circuit Revives Libor Claims Against Barclays

NEW YORK - The Second Circuit U.S. Court of Appeals on April 25 affirmed in part and vacated in part a federal court's dismissal of a putative securities fraud class action alleging that Barclays Bank PLC and its affiliates (collectively, Barclays) and former officers willfully misrepresented the bank's borrowing costs and knowingly submitted false London Interbank Offered Rate (Libor) information (Carpenters Pension Trust Fund, et al. v. Barclays PLC, et al., No. 13-2678, 2nd Cir.).

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