Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing In Barclays PLC (BCS) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Barclays PLC (“Barclays” or the “Company”) (NYSE: BCS) of the September 26, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Barclays and certain executives and directors.
A complaint has been filed in the United States District Court of the Southern District of New York on behalf of all persons who purchased Barclays common stock between August 2, 2011 and June 25, 2014, inclusive (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company used its dark pool to favor high-frequency traders over others; (ii) the pools were offered to investors as protection from aggressive traders, while Barclays charged lower rates to its high-frequency traders; (iii) Barclays distorted the percentage of high-frequency trader’s activity in its dark pool; (iv) Barclays failed to deliver its monitoring services, as promised, to its clients as protection from its high-frequency traders; (v) Barclays directed a high percentage of its client orders to its own dark pool while misrepresenting that the orders were routed in a way that did not favor Barclays LX; (vi) Barclays secretly provided high-frequency firms informational and other advantages over its clients trading in the dark pool; (vii) Barclays’ actions subjected it to regulatory scrutiny and substantial impairment of reputation; (viii) and as a result, the Company’s financial statements were materially false and misleading at all relevant times.
On June 25, 2014, New York State office of the Attorney General reported Barclays dark pool activities and other aspects of its electronic trading division.
Following this news, the price of Barclays stock declined by $1.16, or over 7.38%, to close at $14.55 on June 26, 2014.
If you invested in Barclays stock, bonds or options between August 2, 2011 and June 25, 2014 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Barclays’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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