Ex-trader to sue Barclays over Libor rigging case

What happened: A former Barclays trader plans to sue the bank after his Libor rigging conviction was quashed. Jay Merchant, 55, jailed in 2016, had his conviction overturned by the Court of Appeal along with five other ex-Barclays employees. Key numbers: Merchant served over two years of a six-and-a-half-year sentence. Why it matters: Merchant accuses Barclays of sacrificing lower-level staff to protect itself and says he hopes to hold the bank accountable. The ruling follows a Supreme Court decision in the Tom Hayes and Carlo Palombo cases.

A former Barclays trader plans to sue the bank after his Libor rigging conviction was quashed. Jay Merchant, 55, jailed in 2016, had his conviction overturned by the Court of Appeal along with five other ex-Barclays employees.

Merchant accuses Barclays of sacrificing lower-level staff to protect itself and says he hopes to hold the bank accountable. The ruling follows a Supreme Court decision in the Tom Hayes and Carlo Palombo cases.