According to the complaint, Defendants made false and/or misleading statements and/or failed to disclose that:
- contrary to false public assertions, Barclays’s now-former group chief executive James “Jes” Staley (“Staley”) had a very close relationship with Jeffrey Epstein (“Epstein”);
- Staley was reportedly aware of Epstein’s criminal activities and may have even sexually assaulted a victim who had previously been trafficked by Epstein;
- Staley’s close, personal relationship with Epstein, and potential criminal activity, if discovered, could bring reputational, legal, and financial harm to Barclays;
- as a result, Barclays’s response to the British Financial Conduct Authority’s (“FCA”) inquiry regarding Staley’s relationship with Epstein was materially false;
- Barclays, having become aware of information contradicting its response to the FCA’s inquiry, then failed to update the response so that it would be accurate, or otherwise take any meaningful action; and
- as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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