Barclays Must Face FERC Lawsuit Over $488 Million Fine
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Barclays Plc, the U.K.’s second-largest bank by assets, lost a bid to dismiss a lawsuit by U.S. regulators seeking to force it to pay $488 million in fines for manipulating trades on electricity contracts.
U.S. District Judge Troy Nunley in Sacramento, California, said in a ruling that “FERC has alleged both a sufficient factual and legal basis to support its claim of manipulation.”