The information contained on this website is only a summary of the information presented in more detail in the Notice of Proposed Settlement of Class Action, you should review the Notice for additional details.
Summary of the Action and Settlement
The Settlement resolves the Action concerning whether Barclays, Barclays Capital Inc., and William White (collectively, “Defendants”) violated federal securities laws by allegedly making misrepresentations and/or omissions of material fact in public statements to the investing public concerning Barclays’ “dark pool,” known as Liquidity Cross or LX, a private trading venue on which participants can trade securities without publicly displaying bids or offers. Defendants have denied and continue to deny each, any, and all allegations of wrongdoing, fault, liability, or damage whatsoever asserted by Plaintiffs. Defendants have also denied, inter alia, the allegations that Plaintiffs or the Settlement Class have suffered damages or that Plaintiffs or the Settlement Class were harmed by the conduct alleged in the Action. Defendants continue to believe the claims asserted against them in the Action are without merit.
The Court will hold a Settlement Hearing on May 31, 2019 at 10:00 a.m. to decide whether to approve the Settlement. If approved by the Court, the Settlement will provide $27,000,000 gross (the “Settlement Amount”), plus interest as it accrues, minus attorneys’ fees, costs, Compensatory Award to Plaintiffs and administrative expenses, net of any taxes on interest, to pay claims of investors who purchased Barclays ADSs during the Class Period.
The Settlement represents an average recovery of $0.29 per Barclays ADS for the approximately 92.1 million estimated ADSs that Plaintiffs allege were damaged and declined in value as a result of Defendants’ alleged misconduct during the Class Period. A Barclays ADS may have been traded more than once during the Class Period. These estimates solely reflect the average recovery per allegedly damaged ADS. This is not an estimate of the actual recovery per ADS you should expect. Your actual recovery will depend on the aggregate losses of all Settlement Class Members, the date(s) you purchased and sold Barclays ADSs, and the total number of claims filed. See the Plan of Allocation on page 12 of the Notice for more details.
You are a Class Member:
If you purchased or otherwise acquired American Depository Shares (“ADSs”) of Barclays PLC (“Barclays” or the “Company”) between August 2, 2011 and June 25, 2014, both dates inclusive (the “Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Barclays ADSs.
If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form to the Claims Administrator at the address listed in the detailed Notice and postmarked no later than June 7, 2019, establishing that you are entitled to recovery.
How do I obtain more information?
Detailed information about the Action and the Settlement is contained in the Notice available on the Important Documents page on this website. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-888-593-6794; or emailing info@Barclayslxsecuritieslitigation.com; or mailing a letter to:
Barclays LX Securities Litigation
c/o JND Legal Administration
P.O. Box 91224
Seattle, WA 98111
Inquiries should NOT be directed to the Court or the Clerk of the Court.
|YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT
|SUBMIT A CLAIM FORM
||The only way to get a payment. Proof of Claim and Release forms must be postmarked no later than or submitted online by June 7, 2019.
||Get no payment. This is the only option that allows you to ever be part of any other lawsuit against the Defendants or any other Released Parties about the legal claims in this case. Requests for Exclusion must be postmarked on or before May 10, 2019.
||Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees, costs, and expenses. You will still be a member of the Class. Objections must be postmarked on or before May 10, 2019.
|GO TO THE HEARING
||Ask to speak in Court about the fairness of the Settlement. Requests to speak must be received by counsel by May 10, 2019.
||Get no payment. Give up your rights.