Case Study
Summary Judgment Victory in Barclays Securities Litigation
A judge dismissed this U.S. class action brought against Barclays Plc by investors who purchased stock months before the 2008 global financial crisis. N o t e : In November 2018, the Second U.S. Circuit Court of Appeals affirmed the U.S. district court’s decision and denied plaintiffs’ Daubert motion to exclude Dr. Allan Kleidon’s testimony. Barclays relied on Dr. Kleidon’s analysis in support of its negative loss causation defense. Citing Dr. Kleidon’s testimony numerous times, the judges concluded that “Dr. Kleidon’s report and event study are based on ‘reliable principles and methods’ and would ‘help the trier of fact to understand the evidence or to determine a fact in issue.’ We therefore rule that the District Court did not err by admitting Dr. Kleidon’s report and relying on it, in