The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Barclays PLC (NYSE: BCS) who purchased American Depositary Receipts between February 18, 2021 and March 25, 2022. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Barclays lawsuit alleges 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.
Shareholders have until November 22, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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