NEW YORK—Barclays Plc. is not liable to investors who bought its U.S.-listed stock a few months before the 2008 financial crisis and accused the British bank of hiding its risky debt exposure and a capital shortfall, a U.S. court ruled on Nov. 19.
In a 3-0 decision, the 2nd U.S. Circuit Court of Appeals in Manhattan upheld the dismissal of claims against Barclays and underwriters led by Citigroup Inc. over the British bank’s April 2008 sale of $2.5 billion of American depositary shares. Barclays’ share price had fallen 80 percent by the following March.
