Barclays Cleared In Enron Suit Due To Loss Causation

Law360, New York (July 21, 2006, 12:00 AM EDT) -- British lender Barclays PLC was partially freed Friday from the Enron Corp. debacle after a federal judge dismissed an inadequate class action complaint that the bank helped push the defunct energy giant into bankruptcy.

The order granted Barclays’ June 2005 motion for partial summary judgment that the defendants failed to draw a sufficient connection between the bank and the financial losses incurred by investors.

The plaintiffs in the so-called Newby litigation argued in a May 2003 amended complaint that Barclays had an “extended and close relationship”...
To view the full article, register now.