Statement re Enron
Barclays PLC
20 March 2007
20th March 2007
BARCLAYS PLC
In the Enron class action litigation that has been pending against Barclays in
Houston since 2002 (commonly known as the Newby litigation), The United States
Court of Appeals for the 5th Circuit yesterday issued an order reversing the
district court's ruling that the case against Barclays and two other financial
institutions could properly proceed. The Court of Appeals held that because no
proper claim against Barclays and the others had been alleged by the plaintiffs,
the case could not proceed against them. The plaintiffs have said they will
likely seek further appellate review of this decision, including by the United
States Supreme Court.
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Contacts:
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About Barclays
Barclays Bank PLC is a major global financial services provider engaged in
retail and commercial banking, credit cards, investment banking, wealth
management and investment management services. We are one of the largest
financial services companies in the world by market capitalisation. With over
300 years of history and expertise in banking, Barclays operates in over 60
countries and employs around 120,000 people, we move, lend, invest and protect
money for over 25 million customers and clients worldwide. For further
information about Barclays PLC please visit our website www.barclays.com.
Forward-looking statements
This document contains certain forward-looking statements within the meaning of
Section 21E of the US Securities Exchange Act of 1934, as amended, and Section
27A of the US Securities Act of 1933, as amended, with respect to certain of
Barclays plans and its current goals and expectations relating to its future
financial condition and performance, in particular with respect to Barclays
Capital. These forward-looking statements can be identified by the fact that
they do not relate only to historical or current facts. Forward-looking
statements sometimes use words such as 'aim', 'anticipate', 'target', 'expect',
'estimate', 'intend', 'plan', 'goal', 'believe', or other words of similar
meaning. Examples of forward-looking statements include, among others,
statements regarding Barclays future financial position, income growth,
impairment charges, business strategy, projected levels of growth in the banking
and financial markets, projected costs, estimates of capital expenditures, and
plans and objectives for future operations.
By their nature, forward-looking statements involve risk and uncertainty because
they relate to future events and circumstances, including, but not limited to,
global as well as US economic and business conditions, market related risks such
as changes in interest rates and exchange rates, the policies and actions of
governmental and regulatory authorities, changes in legislation, and the impact
of competition - a number of which factors are beyond Barclays control. As a
result, Barclays actual future results may differ materially from the plans,
goals, and expectations set forth in Barclays forward-looking statements. Any
forward-looking statements made by or on behalf of Barclays speak only as of the
date they are made. Barclays does not undertake to update forward-looking
statements to reflect any changes in Barclays expectations with regard thereto
or any changes in events, conditions or circumstances on which any such
statement is based. The reader should, however, consult any additional
disclosures that Barclays has made or may make in documents it has filed or may
file with the SEC.
This information is provided by RNS
The company news service from the London Stock Exchange