Barclays PLC Class Action Lawsuit BCS | Deadline November 22, 2022

Barclays PLC Class Action Lawsuit BCS | Deadline November 22, 2022

Barclays PLC Class Action Lawsuit (BCS Lawsuit)

What Is The Barclays PLC Class Action Lawsuit About?

The Barclays PLC Class Action Lawsuit (NYSE:BCS) (Barclays PLC Class Action Lawsuit) was filed when after the market closed on March 28, 2022, before the trading market for Barclays ADRs opened for the day, Barclays announced the over-issuance for the first time, that BBPLC had issued approximately $15.2 billion in unregistered securities under an August 2019 shelf registration statement, that BBPLC would commence a rescission offer for those unregistered securities, and that Barclays expected the rescission losses to be £450m.

Is There A Barclays PLC Class Action Lawsuit?

BCS:NYSE Class Action Lawsuit (Barclays PLC)  was filed on September 23, 2022 on behalf of shareholders. On March 28, 2022, before the trading market for Barclays ADRs opened for the day, Barclays announced the over-issuance for the first time, that BBPLC had issued approximately $15.2 billion in unregistered securities under an August 2019 shelf registration statement, that BBPLC would commence a rescission offer for those unregistered securities, and that Barclays expected the rescission losses to be £450m.

This disclosure revealed to the market not only the fact of the over-issuance and Barclays liability for claims of rescission, but that Barclays did not have adequate internal controls to account for issued securities and prevent such an over-issuance of unregistered securities tied to a shelf registration statement.

In response to this news, on March 28, 2022, the price of Barclays ADRs declined $0.96 per ADR, or 10.61%, from a closing price on Friday March 25, 2022 of $9.05 per ADR to a closing price of $8.09 per ADR on Monday March 28, 2022 (the next trading day) on exceptionally heavy volume of 38.775 million ADRs, more than six times the average daily trading volume of Barclays ADRs.

Is There A Deadline For The Barclays PLC Lawsuit?

The deadline for the Barclays PLC Class Action Lawsuit (NYSE:BCS) (Barclays PLC) is November 22, 2022 for a Lead Plaintiff.

How Much Did Shareholders Lose In Barclays PLC Stock?

Shareholders who held BCS securities saw stock price fell $0.96 per ADR, or 10.61%, from a closing price on Friday March 25, 2022 of $9.05 per ADR to a closing price of $8.09 per ADR on Monday March 28, 2022 (the next trading day) on exceptionally heavy volume of 38.775 million ADRs, more than six times the average daily trading volume of Barclays ADRs.

What Is The Barclays PLC Lawsuit Complaint?

Levi & Korsinsky, LLP announces that a BCS class action lawsuit (Barclays PLC Class Action Lawsuit) has been filed on behalf of investors who purchased Barclays PLC Class Action Lawsuit (BCS) securities between February 18, 2021 – March 25, 2022, inclusive. For more on the BCS Lawsuit please contact us today.

According to the Barclays PLC lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:

 a) as of December 31, 2020 and February 18, 2021, Barclays had a material weakness in its internal control environment due to the fact that the over-issuance had occurred and was not immediately identified; and b) they failed to disclose that as of February 18, 2021

(i) Barclays Bank PLC (“BBPLC”) had and was selling unregistered securities in excess of the amounts registered by the August 2019 shelf registration statement,

(ii) BBPLC was violating U.S. securities laws and/or the U.S. Securities and Exchange Commission regulations, subjecting Barclays to legal liability, and

(iii) BBPLC was required to conduct a rescission offer for those unregistered securities.

If you suffered a loss in BCS, you have until November 22, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Why Levi & Korsinsky, LLP Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

 

What Is The Lead Plaintiff Process?

THE LEAD PLAINTIFF PROCESS: According to the Private Securities Reform Act of 1995, any investor who bought or acquired BCS securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The BCS class-action lawsuit is directed by the lead plaintiff. To litigate the Barclays PLC Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the BCS Class Action Lawsuit.

 

What Does BCS Do?

 

Barclays PLC, through its subsidiaries, provides various financial products and services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia.

The company operates through Barclays UK and Barclays International divisions. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services.The company also engages in securities dealing activities; and issues credit cards.

The company was formerly known as Barclays Bank Limited and changed its name to Barclays PLC in January 1985.

Barclays PLC was founded in 1690 and is headquartered in London, the United Kingdom.

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