Barclays Plc (BARC) asked a New York state judge to throw out Attorney General Eric Schneiderman’s lawsuit accusing the lender of lying to its customers in order to expand its dark pool.
Dark pools are private stock markets usually operated inside large banks. Unlike exchanges such as the New York Stock Exchange, supply and demand is kept private until after a trade is executed. While that can help investors get better prices by masking their strategies, that opaqueness also fuels suspicion that dark pools’ owners don’t treat some customers fairly.
The judge is hearing arguments over the request to dismiss the lawsuit in Manhattan today.
Barclays said the suit failed to show any investors were harmed by the alleged misrepresentations.
Why 'look at bp'? Why? Is BP a financial organisation? Has Barcs branched out into the petrochem industry? Why look at BP? Why not try doing something reasonable like, you know, comparing 'like with like'? For instance, comparing Barcs with HSBC, the UK's largest bank, shows that since the start of market today HSBC is down -0.03%. Meanwhile "underperforming" Barcs shows a gain of +1.64% (at time of posting). ..and if you compare the two over a FIVE DAY PERIOD (a reasonable amount of time) then you'll find that Barcs is DOWN -6.07% (bad Barcs!). However the mighty HSBC is down -7.05% So, comparing like with like, shows that in the last five days of trade Barcs' SP has not performed as badly as HSBC, the UK's largest bank. How's those randomly chosen figures for apples?
Meanwhile, Jeffries Group has reissued its "Buy" rating for Barcs with a target SP of 331, that's 41.5% up on the current SP... which would be nice.
Barclays trading over £32 million shares today ! Clearly no shortage of fodder for the market makers.I make that around £32000 profit at 0.1% spread !!! They have no reason to take the share price down while there are enough shares available to deal in . Next time Kov rubs it in that Barcs are going down remember its only the market makers shaking the tree to scare you into selling as they are short of shares to fill their orders.Don't be the one to be shaken from the tree!! Barclays future is looking up !!!
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