Barclays PLC VXX Class Action Alert

Dallas, Texas--(Newsfile Corp. - April 14, 2023) - Texas law firm Sbaiti & Company PLLC announces that it has filed a class action on behalf of VXX investors against Barclays PLC (NYSE: BCS) and Barclays Bank PLC in the U.S. District Court for the Southern District of New York. The action alleges that Barclays issued unregistered securities in violation of federal law.

In a September 29, 2022 consent order with the U.S. Securities and Exchange Commission, Barclays admitted that it had issued $17.7 billion worth of unregistered securities. Included among them were the Barclays Bank PLC iPath Series B S&P 500 VIX Short-Term Futures ETN ("VXX").

Barclays announced a rescission offer last year to purchasers of $17.7 billion of unregistered securities, including purchasers of VXX shares. Barclays then rejected the rescission claims submitted by the plaintiffs, as it did with the claims of many other VXX investors.

The lawsuit alleges that unregistered VXX shares were purchased between June 26, 2019, and March 14, 2022 (the "Class Period"), and is brought on behalf of investors who purchased VXX shares during the Class Period (the "Class").

The complaint asserts causes of action for violations of sections 5, 11, and 12 of the Securities Act of 1933. A copy of the complaint is available at https://images.newsfilecorp.com/files/9663/162331_469396_originalcomplaint.pdf.

Deadline to Seek Appointment as Lead Plaintiff. If you wish to serve as lead plaintiff for the Class, you must file a motion with the Court no later than June 13, 2023, which is 60 days after the publication date of this notice. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member. Any member of the proposed Class may seek to serve as lead plaintiff through counsel of their choice or may do nothing and remain a member of the proposed Class. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

If you wish to discuss this action or have questions concerning this notice or your interests, please contact Mazin Sbaiti or Jonathan Bridges at 214.432.2899 or info@SbaitiLaw.com. For more information about the plaintiffs' law firm, visit SbaitiLaw.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/162379