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Barclays Shares Tumble

Bank's fines for falsifying Libor spark speculation of lawsuits.

By Howard Mustoe, Bloomberg | Updated on June 28, 2012

Barclays Plc, Britain’s second- largest bank by assets, slid the most in three years after its record fines yesterday for falsifying London interbank offered rate submissions sparked speculation lawsuits will follow.

The shares fell as much as 18 percent as U.K. lawmakers called on Chief Executive Officer Robert Diamond to resign. Barclays stock was down 28.7 pence to 167.4 pence at 12:55 p.m. in London. It was the biggest decline since March 2009.

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