BusinessCompany NewsBarclays escapes Enron censure

Barclays escapes Enron censure

FTSE100 bank avoids $1bn censure as US court dismisses Enron claims

Barclays has avoided the possibility of incurring a $1bn (£538m) hit for its
involvement with Enron.

The banking group was facing claims from Enron shareholders who a filed a
class action against Enron, its banks and former executives. Barclays had
performed investment banking work for Enron.

In a statement released today Barclays said: ‘Barclays yesterday received an
order from the US District Court for the Southern District of Texas Houston
Division which has dismissed the claims against Barclays in the Enron class
action’.

Unless the plaintiffs successfully challenge the order the litigation will be
over.

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