The Court of Appeal in London will quash Wednesday the criminal convictions of five financial traders for manipulating the Libor interest rate benchmarks and its euro equivalent Euribor, their lawyers announced.
The decision to overturn the convictions of the five who worked at Barclays will be formally handed down by the court at 2:00 pm (1300 GMT) and follows a landmark 2025 Supreme Court ruling that quashed two other former traders' convictions.
Manipulation of the London Inter-Bank Offered Rate (Libor) and its euro equivalent Euribor occurred in the run-up to and following the 2008 global financial crisis.