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3rd ex-Barclays forex trader loses unfair dismissal claim

Former Barclays Plc foreign exchange trader Jack Murray lost his unfair dismissal lawsuit against the bank after a court ruled that Barclays was right to fire him for sharing confidential information with rivals, Bloomberg News reported.

Murray, who was one of the six traders suspended by the lender in connection with an investigation into the possible manipulation of foreign exchange markets in 2013, is the third Barclays former trader to lose an employment suit, following Chris Ashton and Mark Clark, the newswire reported.

In the ruling, the judge said it was reasonable for the bank to conclude that Murray's behavior in terms of exchanging of confidential trading information with competitors, together with the usage of sexually explicit and racist language in online chats, amounted to gross misconduct, according to the May 26 report.