Barclays dismisses two U.S. securities fraud lawsuits over $17.7 billion issuance, positive.

From Yahoo Finance: 2025-03-21 14:53:00

Barclays successfully dismissed two U.S. securities fraud lawsuits related to the unauthorized sale of $17.7 billion worth of securities. The lawsuits stemmed from Barclays selling more securities than U.S. regulators allowed, particularly involving the iPath Series B S&P 500 VIX Short-Term Future exchange-traded notes (“VXX”). The judge ruled there was no proof of intent to defraud or conscious recklessness, and Barclays’ remedial efforts, including a sales halt and disclosures, weakened the argument of fraud. Barclays previously settled with the SEC for $361 million and agreed to pay $19.5 million to settle a related shareholder lawsuit. Former Chief Executive Jes Staley stepped down in 2021.



Read more at Yahoo Finance: Barclays beats two lawsuits in US over $17.7 billion issuance blunder