Barclays workers denied anonymity in Libor lawsuit

Royal Court of Justice High Court 480

The High Court has dismissed a bid by 106 current and former Barclays staff to remain anonymous in a lawsuit over Libor manipulation.

According to the Financial Times, the request was made in the trial brought by Guardian Care Homes against Barclays, which was fined £290m in June for rigging the financial benchmark.

Guardian Care Homes is suing the bank for £38m for misselling complex interest rate derivatives.

In November, reports revealed Mr Justice Julian Flaux forced Barclays to hand over the names of 208 staff linked to attempts to manipulate Libor to Guardian’s legal team.

The FT says lawyers representing the Barclays workers yesterday asked the judge to prevent their names form being published, claiming it would be unfair for the media to name them after the FSA and US regulators chose not to identify them.

The lawyers also argued there could be potential prejudice to individuals over potential future criminal or regulatory proceedings.

Four media outlets, including the FT, opposed the application and Mr Justice Julian Flaux ruled the individuals involved should be named in open court.

The case is expected to come to trial in October.