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Barclays wins end to U.S. litigation over pre-crisis disclosures

Reuters  |  NEW YORK 

By Jonathan StempelNEW YORK (Reuters) - Barclays Plc won the dismissal on Wednesday of U.S. class-action litigation by investors who bought its stock just months before the 2008 global financial crisis, and accused it of concealing its exposure to risky debt and an inability to manage credit risks.U.S. District Judge Paul Crotty in Manhattan said investors failed to show that Barclays and underwriters led by Citigroup Inc deceived them when the British bank sold $2.5 billion of American depositary shares in April 2008.Though the shares lost 80 percent of their value by the following March, ...

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First Published: Thu, September 14 2017. 04:51 IST
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