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Former Barclays trader plans lawsuit against bank after Libor manipulation conviction overturned

The Telegraph ·

BCS Barclays plc ADR
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  1. 1Former Barclays trader Jay Merchant plans to sue the bank after his Libor manipulation conviction was invalidated.
  2. 2An appeals court overturned the convictions of Jay Merchant and five former Barclays employees on Wednesday.
  3. 3Tom Hayes's lawsuit claim amount is at least $400 million (300 million pounds).

So what's the key point?

A person who worked at Barclays was convicted of interest rate manipulation, but that conviction was overturned. Now, this person is preparing a lawsuit against the bank to claim at least $400 million.

Source The Telegraph · View original ↗

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