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Barclays wins dismissal of U.S. shareholder lawsuit over Libor

Barclays Plc , the first bank to settle with authorities over alleged manipulation of the Libor interest rate, on Monday won the dismissal of a U.S. lawsuit by shareholders who claimed they lost money because of the British bank's activity.U.S. District Judge Shira Scheindlin in Manhattan said investors who owned Barclays' American depositary shares did not show that Barclays and other defendants, including former Chief Executives John Varley and Bob Diamond, misled them about Libor or took too long to reveal potential liabilities.She also said the investors failed to show that alleged Libor manipulation between August 2007 and January 2009 caused them to lose money through June 2012, when Barclays reached a $453 million settlement with U.S. and European regulators."The notion that the market would fail to digest three years of non-fraudulent submission rates and other more detailed financial information, and would instead leave intact artificial inflation as a result of fraudulent sub...

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  1. Barclays told to rein in pay, tighten controls

    Barclays needs to rein in pay for top staff and tighten control of its operations to repair its reputation after a string of scandals, a report commissioned by the l...

  2. Barclays Told To Review Pay Practices

    Barclays PLC (BCS) suffered from "a lack of self-awareness" in recent years as a culture of high pay and short-term incentives brought the bank into disrepute, accor...

  3. Report urges Barclays to make pay realistic

    Barclays needs to further rein in pay for top staff if it wants to repair its reputation after an interest rate rigging scandal, a report commissioned by the bank sa...

  4. Insight: German reliance on Deutsche Bank outweighs scandals

    Germany has become so dependent on Deutsche Bank to grease the wheels of its export driven economy that it looks willing to gloss over scandals involving its largest...

  5. Analysis: Second "Shareholder Spring" unlikely to bloom in Europe

    While politicians and public have fulminated against lottery-sized pay awards in Europe's boardrooms, fund firms, which wield the real power, are less concerned by s...

  6. Barclays and RBS pay more than 500 staff over one million pounds

    Britain's Barclays and RBS paid more than 500 staff over 1 million pounds ($1.5 million) in 2012, a year when both were embroiled in rate rigging and mis-selling sca...

  7. Ex-Barclays Boss Set for $3M Payday

    Former Barclays chief executive Bob Diamond is set to be paid about 2 million pounds ($3 million) in July, a year after he left the bank following its Libor interest...

  8. Ex-Barclays boss Diamond set for $3 million payday

    Former Barclays chief executive Bob Diamond is set to be paid about 2 million pounds ($3 million) in July, a year after he left the bank following its Libor interest...

  9. Barclays Cuts Bonus Pool On Cost Cutting

    Barclays PLC (BCS) said it cut its bonus pool by nearly 14% in 2012, reflecting the bank's continued efforts to crack down on costs.The British bank published a swat...

  10. Barclays Cuts Bonus Pool as Bank Looks to Cut Costs

    Barclays PLC (BCS) said it cut its bonus pool by nearly 14% in 2012, reflecting the bank's continued efforts to crack down on costs.The British bank published a swat...

  11. LONDON MARKETS: Barclays Rally Leads London Stocks Higher

    Shares of Barclays PLC led U.K. stocks higher on Tuesday after the bank said it would cut costs as part of a strategy overhaul.The FTSE 100 index rallied 1% to close...

  12. LONDON MARKETS: Barclays Rally Lift London Stocks After Results

    Shares of Barclays PLC led U.K. stocks higher on Tuesday, after the bank announced plans to cut costs as part of a strategy overhaul.The FTSE 100 index rose 0.1% to ...

  1. Barclays promises angry investors to crack down on pay

    Barclays promised a rigorous review of executive pay on Thursday, as shareholders at the bank's annual meeting said they remain unconvinced that big bonus payouts wi...

  2. Barclays : We Will Crack Down on Excess Pay

    Barclays promised a rigorous review of executive pay on Thursday, as shareholders at the bank's annual meeting criticized the new management, unconvinced that the pa...

  3. Barclays investment banking shines as overhaul costs hurt

    Investment banking made most of the first quarter profit at British bank Barclays , highlighting the challenge for the lender's new boss in making money as he shrink...

  4. Barclays Profit Hit by Strategic Revamp Charges

    Barclays PLC (BCS) Wednesday said it spent GBP514 million in the first quarter to start shutting down businesses as part of its strategic revamp, denting profits but...

  5. Diamond era ends at Barclays with Ricci exit

    Rich Ricci, the boss of Barclays' investment bank who collected $26 million in deferred bonuses last month, is leaving the scandal-hit bank as its new chief executiv...

  6. LONDON MARKETS: GSK, Vodafone Rise In Flat U.K. Market

    Shares of GlaxoSmithKline PLC and Vodafone Group PLC rose on Thursday in an otherwise flat U.K. market, where gains were erased in afternoon action after weaker-than...

  7. Barclays Cleans the Slate with Ricci, Kalaris Departures

    Barclays PLC (BCS) Thursday said corporate and investment banking head Rich Ricci and wealth chief Tom Kalaris will leave the bank, as Chief Executive Antony Jenkins...

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