Barclays Settles Suit Over Misuse of Client’s Deal Data

Barclays Plc settled a lawsuit against CF Partners (U.K.) LLP after a London judge criticized the banks’ employees and ruled the lender had breached confidential client information to help it buy a carbon trading firm.

Yesterday’s settlement was disclosed minutes after Judge Robert Hildyard issued a verdict saying Barclays misused the information to buy Tricorona AB in 2010. He called a bank employee who was central to the deal “a law unto herself.” Barclays won part of the lawsuit saying it broke exclusivity rules by doing the deal. Financial details of the agreement weren’t given. Hildyard said in his ruling that that CF Partners should get 10 million euros ($12.8 million.)