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NEW YORK, Oct. 18, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally recognized investor rights law firm, is reminding investors of the deadline for filing a motion by lead plaintiff in a securities class action lawsuit filed on behalf of investors between Barclays PLC (“Barclays” or the “Company”) purchased or otherwise acquired American Depositary Receipts (“ADRs”) February 18, 2021 and March 25, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of New York alleging violations of the Securities Exchange Act of 1934.
Barclays is a British universal bank offering consumer banking and payments services, global corporate and investment banking services in the United Kingdom (“UK”), the United States (“US”) and Europe.
Barclays 2020 Annual Report on Form 20-F filed with the SEC on February 18, 2021 (“2020 Barclays 20-F”) and 2021 Annual Report on Form 20-F filed with the SEC on February 23, 2022 (“ 2021 Barclays 20-F”), informed investors that Barclays’ internal controls over financial reporting were effective.
However, these statements were materially false and misleading or failed to disclose material information necessary for statements on Form 20-F not to be misleading, in violation of Section 10(b) of the Exchange Act and Rule 10b-5.
As Barclays has since admitted, Barclays’ internal controls over financial reporting were not effective during the class action period and there was a material weakness in those controls because, as of February 18, 2021, BBPLC, a wholly owned subsidiary of Barclays, has unregistered securities worth about 17.64 billion
Read full story here https://www.benzinga.com/pressreleases/22/10/g29299617/barclays-plc-nyse-bcs-shareholder-class-action-alert-bernstein-liebhard-llp-reminds-investors-of-t