Law360, Los Angeles (March 1, 2016, 5:39 PM EST) -- A California federal judge refused Monday to halt the Federal Energy Regulatory Commission’s suit seeking an affirmation of its $453 million penalty against Barclays Bank PLC and four of its traders accused of manipulating electricity prices while their appeal plays out.Denying the defendants’ motion for stay pending their Ninth Circuit appeal, U.S. District Judge Troy L. Nunley said Barclays and traders Daniel Brin, Scott Connelly, Karen Levine and Ryan Smith hadn't shown that the information they want for discovery is essential to their defense.FERC claims the defendants manipulated electricity prices in Western U.S. markets between November 2006 and December... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
Barclays has failed to put the Federal electricity regulatory Commission 's ( SEC ) lawsuit into an affirmation of its $ 453 million penalty against the bank and four of its traders on hold while their lawsuit plays out ; the banks and traders are accused of manipulating electricity prices .