Thursday, April 26, 2007

Barclays may face SEC action over debt trading

(Reuters) - A separate lawsuit filed against the bank in March by a former employee alleges that Barclays' U.S. distressed debt desk, which deals in bankrupt company bonds, traded debt after "potentially gaining nonpublic information" through bankruptcy creditor committees.

The suit was filed in March by former Barclays analyst Michael Econn in the Manhattan federal court. Econn is seeking damages for alleged discrimination by Barclays because of his assistance of the SEC.


Read more at Reuters.com Business News

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