According to the Complaint, Barclays PLC is a transatlantic consumer and wholesale bank with global reach offering products and services across personal, corporate and investment banking, credit cards and wealth management.

The Complaint alleges, among other things, that, throughout the Class Period, Defendants made materially false and misleading statements or omitted material information (a) in Barclays reported financial statements (which have been restated), (b) by stating that Barclays internal controls over financial reporting were effective (which Barclays has admitted were not effective and had a material weakness), and (c) by failing to disclose the over-issuance, and that BBPLC was violating U.S. securities laws and/or SEC regulations, subjecting Barclays to legal liability.

On December 21, 2022, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on March 6, 2023. Defendants filed a Motion to Dismiss the amended Complaint on May 5.

On February 23, 2024, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. The parties were ordered to meet and confer, and to submit a proposed case management plan.