U.S. shareholder lawsuit vs Barclays gets new life
Aug 19 (Reuters) - Barclays Plc may face a revived U.S. lawsuit over its disclosures connected with a 2008 stock offering, after a federal appeals court said a lower court judge erred in refusing to let the case proceed.
The 2nd U.S. Circuit Court of Appeals in New York said investors in a $2.5 billion offering of American depositary shares in April 2008 may pursue claims that Barclays failed to adequately disclose its exposure to credit market risks, and misled investors about its risk management.
It also upheld the dismissal of similar claims over offerings in 2006 and 2007, saying the plaintiffs waited too long to sue.
A Barclays spokesman declined immediate comment.