Barclays Must Pay $2.1M To Trader Fired Amid Libor Scandal
By Jeff Sistrunk
Law360, Los Angeles (November 27, 2013, 8:11 PM EST) -- An arbitration panel for the Financial Industry Regulatory Authority has ordered a unit of Barclays Bank PLC to pay $2.1 million to a trader it fired last year amid the scandal over alleged rigging of the London Interbank Offered Rate, according to arbitration documents made public Tuesday.
Following a hearing in New York City, the arbitration panel found in favor of Dong Kun Lee and ordered Barclays Capital Inc. to pay him $2.1 million in compensatory damages, according to a decision dated Nov. 15. Lee was...