Barclays Investor Suit Over Libor Dismissed by U.S. Judge
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Barclays Plc won dismissal of a lawsuit by holders of its American depositary receipts who claimed the U.K. bank misled shareholders about its manipulation of the London Interbank Offered Rate, or Libor.
U.S. District Judge Shira Scheindlin today dismissed the suit, filed last year, on behalf of a class of investors who bought Barclays’s ADRs between July 10, 2007, and June 27, 2012. She said the alleged misstatements didn’t violate the law or lacked a sufficient connection to Barclays’ practices with regard to Libor.