March 30, 2018
A high-risk legal strategy in which Barclays rejected an early settlement over allegedly misleading statements it made to investors regarding $31 billion in residential mortgage-backed securities has paid off, legal experts say, with the bank ultimately agreeing to a $2 billion settlement — far less than an array of U.S. banks facing similar charges.
January 12, 2018
A New York federal judge on Friday refused pleas from banks and mortgage companies to scale back his order allowing costly subpoenas for loan documents to go forward in a U.S. Department of Justice civil action against Barclays PLC over $31 billion worth of toxic residential mortgage-backed securities, saying it's the cost of doing business.
November 03, 2017
A New York magistrate judge said Thursday he was denying "for the third and final time" a joint request to approve a proposed discovery order in the Justice Department's case seeking civil penalties from Barclays for allegedly deceiving investors about the quality of $31 billion worth of residential mortgage-backed securities.
October 11, 2017
Barclays PLC and federal prosecutors traded blows in papers filed in New York federal court on Tuesday over the government's use of a law passed in the aftermath of the 1980s savings and loan crisis to seek civil penalties from the British bank for allegedly deceiving investors about the quality of $31 billion worth of residential mortgage-backed securities.
April 07, 2017
A Brooklyn federal judge on Friday cast doubt on an expected push by Barclays PLC to dismiss the U.S. Department of Justice's case accusing the British bank and two former employees of deceiving investors about the quality of $31 billion worth of residential mortgage-backed securities, saying settlement talks might be a better option.
December 22, 2016
The Justice Department on Thursday sued Barclays PLC, alleging that the British bank and two of its former employees made false statements about the quality of mortgages packaged into around $31 billion worth of residential mortgage-backed securities prior to the financial crisis.