Barclays may find
itself back in the crosshairs of a $40bn (£20.3bn) class-action lawsuit after a
judge ruled that shareholders could petition for the bank’s reinstatement as a
US District Judge Melinda Harmon declared that shareholders could file a new
complaint against Barclays six months after
shareholders’ initial bid to have the bank held accountable for their losses.
Barclays argued that the move had only been made on procedural grounds and
remained upbeat that their position would be vindicated.
‘Barclays remains confident the claims against it are without merit,’
The Times reported. Recently,
Barclays paid out $144m to settle another suit which claimed the bank played a
key part in helping Enron executives commit fraud. In reaching the compromise
Barclays refused to admit liability, stating that the agreement had been reached
to avoid the unpredictabilty and expense of a court battle.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies