According to the lawsuit, throughout the Class Period, defendants made materially false and misleading statements or omitted material information:
- in Barclays reported financial statements (which have been restated);
- by stating that Barclays internal controls over financial reporting were effective (which Barclays has admitted were not effective and had a material weakness); and
- 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.
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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