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Meaning of Libor book assessed in trader’s defamation claim (Koutsogiannis v Random House)

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Published on: 23 January 2019

Published by a LexisNexis TMT expert

Table of contents

What was the background?
What did the court decide?
Case details

Article summary

TMT analysis: The High Court has ruled that ‘The Spider Network,’ a book about the Libor scandal, carried a defamatory meaning in relation to the claimant Panagiotis Koutsogiannis, who had been a trader at UBS during the Libor rigging problems there. The court held that the meaning of the book was that the claimant had deliberately tried to manipulate the Libor rate to the benefit of his own or his employers’ trading position, which was an allegation of fact, not an expression of opinion as argued by the defendant publisher.

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