Barclays Acquittal Means More Lawsuits From Dealmaker, Ex-Banker - Bloomberg

Barclays Acquittal Means More Lawsuits From Dealmaker, Ex-Banker - Bloomberg:

The verdicts may be in but Barclays Plc’s legal troubles stemming from its financial maneuvers during the global financial crash of 2008 are far from over. 


A British jury on Friday cleared three former Barclays executives of fraud in connection with deals to raise 11.2 billion pounds ($14.3 billion) in equity capital 12 years ago. Now the spotlight turns to a pair of lawsuits and regulatory probes that have been placed on hold for years while the criminal proceedings wound through the courts.

Amanda Staveley, the chief executive officer of PCP Capital Partners LLP, is seeking 1.6 billion pounds from Barclays for allegedly cheating her out of profits she claims she should have earned by bringing investors into the bank’s fundraising deal.

Barclays may still face a suit filed by one of the exonerated executives, Richard Boath, who said he was fired after the bank learned that he had talked to prosecutors probing the deal. In addition, the Financial Conduct Authority said it was restarting related disciplinary probes that had been stayed.