NEW YORK, Oct. 14, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Barclays PLC (“Barclays” or the “Company”) UCS. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.
The investigation concerns whether Barclays and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
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On 28 March 2022, Barclays announced that Barclays Bank PLC (“BBPLC”) had sold unregistered securities worth approximately £15.2bn in a shelf registration statement dated August 2019, bringing unwind losses to approximately £450m.
As a result of this news, the price of Barclays’ American Depositary Receipt (“ADR”) fell $0.96 per ADR, or 10.61%, to close at $8.09 per ADR on March 28, 2022.
Then, on July 28, 2022, Barclays reported preliminary financial results for the quarter ended June 30, 2022 and announced for the first time that BBPLC had also over-issued unregistered securities as part of a second BBPLC registration statement. The 28 July 2022 financial results announcement also informed investors that Barclays had committed “£1,592 million”. [approximately $1.940 billion] (December 2021: £220m) in relation to the over issuance of structured notes and £165m [approximately $201 million] (December 2021: Nil) related to liabilities that may arise from ongoing discussions regarding a possible SEC resolution.”
As a result of this news, the Barclays ADR price fell $0.41 per ADR, or 5.2%, to close at $7.48 per ADR on July 28, 2022.
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