Barclays Beats Investors' Libor Manipulation Claims

Law360, Los Angeles (May 13, 2013, 9:58 PM EDT) -- A New York federal judge on Monday dismissed a putative investor class action alleging U.K.-based Barclays PLC manipulated the London and Euro interbank offered rates and covered it up through misstatements, saying the plaintiffs failed to connect Barclays’ Libor submissions to their alleged losses.

The decision brings an end to the lawsuit brought in 2012 by investors who said Barclays traders had attempted to influence Libor for financial gain and to enhance market perception of its financial health. The plaintiffs said they were led to believe...
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Case Information

Case Title

Gusinsky v. Barclays PLC et al


Case Number

1:12-cv-05329

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Shira A. Scheindlin

Date Filed

July 10, 2012

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