UK judge refuses Barclays’ request

LONDON — A British court has rejected an attempt by Barclays to shield the names of more than 100 present and former employees of the bank allegedly involved in manipulating a key interest rate index or who for other reasons came to the attention of investigators.

Justice Julian Flaux ruled Thursday that granting anonymity would be an ‘‘affront to the principle of open justice.’’ He noted that many names, including former chief executive Bob Diamond, were already on the public record.

Barclays has admitted that employees, sometimes directed by senior executives, submitted false rates used for calculating the London interbank offered rate. Several global banks every day help compile the LIBOR, which is used to price trillions of dollars in global contracts. The bank has already been fined about $450 million by US and British agencies.


Flaux was ruling as part of a suit that more than a dozen firms have joined, contending that financial products Barclays sold them were affected by the manipulated LIBOR. Flaux described the suit as a test case. Barclays said the complaint is without merit.

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The case is expected to go to trial late this year.

Flaux said more than 20 people were referred to in notes published by US and British regulators who investigated LIBOR manipulation.

Associated Press