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$400B Apartheid Case Against UBS, Barclays Trimmed

Law360 (April 8, 2009, 12:00 AM EDT) -- A federal judge has significantly slashed a $400 billion lawsuit against 32 corporate giants for allegedly helping the South African government continue its apartheid policies, including tossing claims against UBS AG and Barclays Bank PLC.

Judge Shira Scheindlin's ruling Wednesday in the U.S. District Court for the Southern District of New York dismissed, among other things, the plaintiffs' claims that the two banks aided and abetted the government by providing financial support to the apartheid regime and its security forces through the purchase of bonds and...
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