LONDON (Alliance News) - A US investor filed a class-action lawsuit in New York on Monday against Barclays PLC and current and former bosses of the bank, over losses suffered after the New York attorney general accused the bank of lying to customers of its LX dark-pool trading platform.
Barbara Strougo filed the lawsuit against Barclays, together with current Chief Executive Anthony Jenkins and Finance Director Tushar Morzaria. The suit also names former CEO Bob Diamond and former Finance Director Chris Lucas as defendants.
Strougo claims that she and other buyers of Barclays' American depositary shares lost money after the New York attorney general brought a suit against Barclay's dark pool trading venue in June. Shares in the bank dropped more than 5% the next day.
The suit claims Barclays made false and/or misleading statements and claims it failed to disclose material adverse facts regarding operations in the dark pool.
Barclays shares are up 0.5% Tuesday morning at 219.33 pence.
http://uk.reuters.com/article/2014/07/29/uk-bbraclays-lawsuit-idUKKBN0FY0L920140729
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Barclays (BARC)
