NEW YORK, Nov. 11, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Barclays PLC (“Barclays” or the “Company”) (NYSE: BCS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Barclays and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 1, 2021, after market hours, Barclays filed a current report on Form 6-K with the United States Securities and Exchange Commission, announcing the departure of Barclays Group Chief Executive Jes Staley (“Stayley”) as a result of Stayley’s relationship with the late Jeffrey Epstein.
On this news, the price of Barclays American Depositary Receipts (“ADRs”) fell $0.25 per ADR, or 2.23%, to close at $10.93 per ADR on November 2, 2021.
Then, on November 12, 2021, before the domestic market closed, the Financial Times published an article entitled “Jes Staley exchanged 1,200 emails with Epstein that included unexplained phrases.”
On this news, the price of Barclays ADRs fell $0.05 per ADR, or 0.469%, to close at $10.62 per ADR on November 12, 2021.
Then, after hours on March 8, 2023, relating to the litigation Jane Doe 1 v. JPMorgan Chase Bank, N.A., 22-v-10019-JSR (S.D.N.Y.), JPMorgan Chase Bank filed a third-party complaint against Staley for indemnity, contribution, breach of fiduciary duty, and breach of the faithless servant doctrine in the event that it is found liable.
On this news, the price of Barclays ADRs fell $0.29 per ADR, or 3.59%, to close at $7.77 per ADR on March 9, 2023.
The price of Barclays ADRs then declined by an additional $0.24 per ADR, or 3.08%, to close at $7.53 per ADR on March 10, 2023. Finally, on October 12, 2023, the Financial Conduct Authority published an announcement on its website entitled “FCA decides to fine and ban James Staley“.
On this news, the price of Barclays ADRs fell $0.39 per ADR, or 4.98%, to close at $7.43 per ADR on October 12, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
