Overview

• Barclays PLC is facing a class action lawsuit due to alleged securities fraud between July 22, 2019 and October 12, 2023.
• The lawsuit alleges that Barclays' CEO, Jes Staley, had a close relationship with Jeffrey Epstein and may have been aware of Epstein's criminal activities.
• Staley's relationship with Epstein and potential criminal activity could bring reputational, legal, and financial harm to Barclays.
• Barclays' response to the British Financial Conduct Authority's inquiry regarding Staley's relationship with Epstein was allegedly materially false.
• Barclays is accused of failing to update its response to the inquiry or take any meaningful action, resulting in materially false and misleading statements about its business, operations, and prospects.