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Court Rules Barclays Must Face U.S. Lawsuit Over LIBOR

April 25, 2014
Jonathan Stempel

(Reuters) - A federal appeals court, reversing a lower court decision, said Barclays Plc (BARC.L) shareholders may pursue a lawsuit accusing the British bank of causing them to lose money because it manipulated the interest rate known as Libor.

"We're obviously pleased with the decision and look forward to prosecuting the case," said David Rosenfeld, a partner at Robbins Geller Rudman & Dowd representing investors led by the Carpenters Pension Trust Fund of St. Louis in Missouri and the St. Clair Shores Police & Fire Retirement System in Michigan.

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