Lawsuit filed for Investors who lost shares of Barclays PLC (NYSE: BCS)

An investor, who purchased shares of Barclays PLC (NYSE: BCS), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Barclays PLC in connection with certain allegedly false and misleading statements.

Investors who purchased a significant amount of shares of Barclays PLC (NYSE: BCS) have certain options and for certain investors are short and strict deadlines running. Deadline: January 2, 2024. NYSE: BCS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On November 1, 2021, Barclays PLC disclosed that its Group Chief Executive, James E. "Jes" Staley, would be departing the Company, stating that "the preliminary conclusions from the FCA and the PRA of their investigation into Mr[.] Staley's characterisation to Barclays of his relationship with the late Mr[.] Jeffrey Epstein and the subsequent description of that relationship in Barclays' response to the FCA" and "Mr[.] Staley's intention to contest" those conclusions led to the mutual decision of his departure.

On November 12, 2021, it was reported that Staley had "exchanged 1,200 emails with Jeffrey Epstein over a four-year period" with "unexplained phrases".

On March 8, 2023, JPMorgan Chase Bank filed a third-party complaint against Staley for indemnity, contribution, breach of fiduciary duty, and breach of the faithless servant doctrine, alleging that "Staley knew without any doubt that Epstein was trafficking and abusing girls" and that he "personally spent time with young girls whom he met through Epstein on several occasions"; "personally visited young girls at Epstein's apartments located at 301 East 66th Street"; "personally observed Epstein around young girls"; and personally observed "Epstein sexually grab young women in front of him."

Then, on October 12, 2023, the FCA announced that it had decided to fine Staley £1.8 million and "ban him from holding a senior management or significant influence function in the financial services industry" after finding that he "recklessly approved a letter sent by Barclays to the FCA, which contained two misleading statements, about the nature of his relationship with Jeffrey Epstein and the point of their last contact." Specifically, "[t]he letter claimed that Mr[.] Staley did not have a close relationship with Mr[.] Epstein. In reality, in emails between the two Mr[.] Staley described Mr[.] Epstein as one of his 'deepest' and 'most cherished' friends."

The plaintiff claims that between July 22, 2019 and October 12, 2023, the defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Contrary to his false public assertions, Jes Staley had a very close relationship with Jeffrey Epstein; (2) Staley was reportedly aware of Jeffrey Epstein's criminal activities and may have even sexually assaulted a victim who had previously been trafficked by Jeffrey Epstein; (3) Staley's close, personal relationship with Jeffrey Epstein, and potential criminal activity, if discovered, could bring reputational, legal, and financial harm to Barclays; (4) as a result, Barclays response to the FCA's inquiry regarding Staley's relationship with Epstein was materially false; (5) 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 (6) that 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.

Those who purchased shares of Barclays PLC (NYSE: BCS) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.