When it comes to the most expensive class-action lawsuit in U.S. history, it can be very hard to find a plaintiff with the resources and clout to do what’s necessary to win.
That’s the dilemma that many litigators and lawyers have faced as they try to build a winning case against Wall Street firms that allegedly manipulated the market in ways that have hurt them, and helped themselves.
One of the few who seems to be doing well is James S. Henson, a former New York attorney general who has been representing clients in more than a dozen class-actions over the past five years.
The case against Barclays, he said, is a reminder that the stakes are much higher than a lawsuit, even one as costly as a $1 billion suit against the financial titan.
“We’re going to be the only class that’s going to win,” Mr. Hensley said.
“That’s a real testament to the power of the class.”
The class-activity lawsuit has a name: Barclays Action, the largest class- action in U,S.
law, which aims to recover damages from the bank.
The class is one of the most powerful in U: The class of approximately 1.1 million people who lost money when Barclays’s traders bet against the stock market in 2007-2008, then lost billions of dollars when it crashed.
The suit alleges that Barclays and its trading desks manipulated the London interbank offered rate, or Libor, and that the banks’ traders colluded to commit the crime.
The Wall Street giant has rejected the allegations and says it has not engaged in any wrongdoing.
The judge overseeing the case is overseeing a $3.9 billion settlement in which Barclays agreed to pay $453 billion in fines, disgorgement of funds and other penalties to U.s. authorities.
The plaintiffs in the class-act suit include people from across the country and the financial industry as well as the U. S. government.
In addition to Mr. Siggons hedge fund and other investments, Mr.
Henson represents clients who have lost money because of their financial choices.
He said his office has helped thousands of people in the last year through its help line.
“I would be shocked if I wasn’t a hero,” Mr and Mrs. Siggins said in a statement.
“The case has raised important questions for many people across the United States and the world.
People are asking if there are things that they can do about the financial system.
We are all asking the same questions.”
The case is being brought in Manhattan federal court by a group of people including Mr. Trump, a billionaire who has not released his tax returns, as well a group led by former Treasury secretary Timothy Geithner, who was named by Mr. Geithners committee as the lead investigator into the crisis.
The Trump administration, which has been struggling to put together a plan to avert a repeat of the 2008 crisis, has resisted calls for an investigation.
The president, however, has called for a full review of the financial crisis and a return to the days when banks could buy back bonds or securities at par with yields and offer them to investors at the current levels of interest.
Mr. Clinton has proposed more aggressive action to address the problem, and in October he called for the creation of a new regulator to oversee the banks.
Barclays, the world’s largest and most famous bank, agreed to settle with regulators last year to pay a $490 million fine and be subject to other reforms.
Barclays was also fined for rigging Libor.
It agreed to share with regulators its internal investigations of those allegations and to submit a report to the U,s.
Securities and Exchange Commission.
The U. government has said it will investigate other banks over their handling of Libor and other financial market benchmarks.
Barclays settled in October for $453.8 billion in a settlement with the U S. Treasury Department.
The Justice Department announced the settlement on Sept. 29 and said it had also agreed to investigate other trading practices by other firms.
Mr Siggens firm, Henson & Cravath, is one that was among the first to join the class action suit, which started in July.
The settlement came at a time when other firms were also pursuing class-law lawsuits.
In August, Mr Saggons firm was sued in federal court in Florida by a former employee of Barclays and others who said they had been harmed by trading in Libor that had been rigged.
A separate case is pending in California, a state that has more than 30,000 lawsuits on its books.
Mr Henson said that he was one of only two hedge fund managers who have represented clients in a class action lawsuit.
Mr and Ms. Higgons also represent a handful of other Wall Street defendants in a federal class action filed last year against the bank Barclays and another hedge fund.
Mr, Hensons firm, JLL, is also involved in a similar case in California. Mr