{"id":5613,"date":"2014-04-25T00:00:00","date_gmt":"2014-04-25T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/04\/barclays_must_face_shareholder_1"},"modified":"2022-05-05T12:16:11","modified_gmt":"2022-05-05T17:16:11","slug":"barclays-must-face-shareholder-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/barclays-must-face-shareholder-1\/","title":{"rendered":"Barclays Must Face Shareholder Lawsuit Over Libor Manipulation"},"content":{"rendered":"

The 2nd U.S. Circuit Court of Appeals in New York says that Barclays Plc (BARC) <\/a>shareholders can go ahead with their securities lawsuit claiming that the British bank caused them to suffer financial losses over manipulation of Libor. The ruling reverses a lower court\u2019s decision.<\/p>\n

The London Interbank Offered Rate is used to set interest rates on mortgages, credit cards, and student loans. It is also the average interest rate that banks can use to estimate what they would be charged if they borrowed from other banks. Regulators in Europe and the US have been investigating whether banks manipulated Libor when the 2008 financial crisis was happening.<\/p>\n

In 2012, Barclays consented to pay British and American regulators $453 million and admitted that between August 2007 and January 2009 it frequently made Libor submissions that were artificially depressed. (Other big financial institutions that have settled Libor manipulation allegations included UBS AG (UBS)<\/a>, ICAP Plc (IAB), Rabobank, and Royal Bank of Scotland Group (RBS)).<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The 2nd U.S. Circuit Court of Appeals in New York says that Barclays Plc (BARC) shareholders can go ahead with their securities lawsuit claiming that the British bank caused them to suffer financial losses over manipulation of Libor. The ruling reverses a lower court\u2019s decision. The London Interbank Offered Rate is used to set interest […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3756,3752],"tags":[],"class_list":["post-5613","post","type-post","status-publish","format-standard","hentry","category-barclays-capital","category-financial-firms"],"yoast_head":"\nBarclays Must Face Shareholder Lawsuit Over Libor Manipulation — Investor Lawyers Blog — April 25, 2014<\/title>\n<meta name=\"description\" content=\"The 2nd U.S. Circuit Court of Appeals in New York says that Barclays Plc (BARC) shareholders can go ahead with their securities lawsuit claiming that the — April 25, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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