Barclays Seeks Dismissal Of Shareholder Suit

Law360, New York (April 20, 2010, 5:27 PM EDT) -- Barclays Bank PLC is asking a federal court in New York to toss a consolidated shareholder securities suit, one of dozens of putative class actions brought in the wake of the global financial crisis.

The company asked the U.S. District Court for the Southern District of New York on Monday to dismiss the suit, saying the plaintiffs failed to state a claim, lacked standing and asserted some claims that are barred by the statute of limitations.

Barclays shareholders filed suit in March 2009 against the bank...
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