NEW YORK, NY / ACCESSWIRE / October 3, 2022 / Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, announces a securities class action lawsuit has been filed against Barclays PLC ("Barclays" or the "Company") (NYSE:BCS) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Barclays American Depositary Receipts ("ADRs") between February 18, 2021, and March 25, 2022, both dates inclusive (the "Class Period").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) in Barclays reported financial statements (which have been restated); (2) by stating that Barclays internal controls over financial reporting were effective (which Barclays has admitted were not effective and had a material weakness); and (3) by failing to disclose the over-issuance and that Barclays Bank PLC ("BBPLC"), a wholly-owned subsidiary of Barclays, was violating U.S. securities laws and/or SEC regulations, subjecting Barclays to legal liability. When the true details entered the market, the lawsuit claims that investors suffered damages.
The Lead Plaintiff deadline in this action is November 22, 2022.
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David J. Schwartz
SOURCE: Labaton Sucharow LLP