Barclays secures Second Circuit ruling in over-issuance litigation

Law firm Sullivan & Cromwell said Barclays Bank PLC has secured another favourable ruling from the US Court of Appeals for the Second Circuit in litigation arising from the over-issuance of exchange-traded notes, bringing an end to the final remaining class action linked to the matter. The firm said the decision follows four years of litigation after Barclays disclosed that it had inadvertently issued securities in excess of the amount registered under a shelf registration statement.