Barclays Investors Ask 2nd Circ. To Revive MBS Suit

Law360, New York (October 18, 2012, 8:26 PM EDT) -- A group of Barclays Bank PLC shareholders asked the Second Circuit on Thursday to reopen a proposed class action claiming the bank had misled them about the riskiness of its mortgage-backed securities holdings, saying they were shut out of court too early.

Despite the difficulty of making a fraud case, the shareholders could craft a complaint that would pass muster, an attorney for the shareholders argued before a three-judge panel in Manhattan.

The investors claim the bank raised more than $5.4 billion from investors from 2006...
To view the full article, register now.