The Rosen Law Firm is issuing a reminder to investors who have taken a short position in Barclays’ iPath Series B S&P 500 VIX Short-Term Futures Exchange Traded Note (“ETN”) under the symbol “VXXB” (also known as “VXX”) about the important upcoming May 17, 2024 lead plaintiff deadline. If you hold a short position in VXX ETNs, you may be entitled to compensation through a contingency fee arrangement, without having to pay any out of pocket fees or costs.
Barclays PLC, Barclays Bank PLC, James E. Staley, Tushar Morzaria, and C.S. Venkatakrishnan (collectively referred to as “Defendants”) are the defendants in the class action lawsuit. According to the lawsuit, Barclays failed to disclose to investors and the market that it had not implemented any internal controls to monitor the issuance of securities from its shelf registrations. It was discovered that Barclays had issued and sold billions of dollars’ worth of unregistered securities, including VXX ETNs, in violation of federal securities registration laws. Over a period of approximately 18 months, Barclays illegally sold over $17 billion of unregistered securities.
Once the misconduct by Barclays came to light, the company had to suspend any further issuances and sales of new VXX ETNs. This sudden suspension caused the market price of VXX to surge and resulted in significant losses for investors who had short positions in VXX.
To join the Barclays class action, visit the Rosen Law Firm’s official website or get in touch with Phillip Kim, Esq. toll-free at 866-767-3653 or via email at [email protected] for more information on the class action. It is important to note that no class has been certified yet, and until a class is certified, you are not represented by legal counsel unless you choose to retain one.
The Rosen Law Firm specializes in securities class actions and shareholder derivative litigation. Led by experienced attorneys, the firm has a proven track record of successful settlements in such cases. Selecting knowledgeable and capable legal counsel is crucial in situations like these, and the Rosen Law Firm is well-regarded for its expertise in securities litigation.
Stay updated on the latest developments by following the Rosen Law Firm on LinkedIn, Twitter, and Facebook.
Please note that prior results achieved by the Rosen Law Firm do not guarantee a similar outcome in your own case.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll-Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com
Source: The Rosen Law Firm, P.A.
In addition to the information provided in the article, here are some facts, current market trends, forecasts, key challenges, and controversies related to the class action lawsuit against Barclays:
1. Facts: The class action lawsuit alleges that Barclays failed to disclose to investors and the market that it had issued and sold billions of dollars’ worth of unregistered securities, including the iPath Series B S&P 500 VIX Short-Term Futures Exchange Traded Note (ETN) known as “VXXB” or “VXX.” The illegal sales of unregistered securities took place over a period of approximately 18 months, totaling over $17 billion.
2. Current Market Trends: The market for volatility-linked exchange-traded products (ETPs) like VXX has been experiencing significant growth over the past few years. Investors have been using these products to hedge against market volatility or speculate on market movements. However, the market has also faced controversy and scrutiny due to potential risks and complexities associated with these products.
3. Forecasts: It is difficult to provide specific forecasts for the outcome of the class action lawsuit, as it depends on various factors such as the strength of the plaintiffs’ case, the evidence presented, and the decision of the court. However, similar class action lawsuits against financial institutions have led to substantial settlements in the past. Investors who have taken a short position in VXXB may be entitled to compensation if the plaintiffs are successful.
4. Key Challenges or Controversies: One key challenge in this class action lawsuit is proving that Barclays failed to disclose the issuance of unregistered securities and violated federal securities registration laws. The defendants may argue that any omissions or misrepresentations were not intentional or that the damages suffered by investors were not directly caused by the alleged misconduct. Another potential controversy is the complex nature of volatility-linked ETPs, leading to questions about investors’ understanding of the risks involved and whether they should bear responsibility for their investment decisions.
Advantages:
– Investors who have taken a short position in VXXB may have an opportunity to seek compensation through a contingency fee arrangement, without having to pay any out-of-pocket fees or costs.
– The Rosen Law Firm specializes in securities class actions and has a proven track record of successful settlements in similar cases. They have experienced attorneys who are knowledgeable in this area of law.
Disadvantages:
– No class has been certified yet, so investors are not represented by legal counsel unless they choose to retain one.
– There is no guarantee of a similar outcome in each individual investor’s case, as results may vary.
For more information on the class action lawsuit and how to join, you can visit the official website of The Rosen Law Firm or contact them directly using the provided contact information.
Please note that the above information is based on general knowledge and should not be considered legal advice. It is important to consult with a qualified attorney for personalized advice regarding your specific circumstances.
Suggested related links:
– U.S. Securities and Exchange Commission
– Barclays official website
– SEC Litigation Releases