Reuters: Barclays says US court dismisses Enron claims [View All]

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Barclays says US court dismisses Enron claims

Reuters
Friday, July 21, 2006; 4:52 AM

LONDON (Reuters) - A U.S. court has dismissed claims against Britain's Barclays <BARC.L>
in a multi-billion dollar lawsuit filed by Enron shareholders against banks that worked
with the fallen energy giant, the lender said on Friday.

Britain's third largest bank, which worked with Enron largely in an investment banking
capacity, said it had received the order from a U.S. district court on Thursday dismissing
the claims in a civil suit against the group and its investment banking arm, Barclays
Capital.

Enron shareholders had filed a class action suit against Enron itself, its banks and several
former top executives, claiming they had lost $40 billion when Enron collapsed. They said
Barclays and other banks had helped Enron hide its debts.

<snip>

Several banks including JP Morgan Chase <JPM.N>, Lehman Brothers <LEH.N> and Citigroup
<C.N> have already reached billion dollar settlements over the suit, which is scheduled
to start later this year.

<snip>

Full article: http://www.washingtonpost.com/wp-dyn/content/article/2006/07/21/AR2006072100112.html