NEW YORK, March 24, 2024 (GLOBE NEWSWIRE) --
WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of acquirers of a short position in Barclays’ iPath Series B S&P 500 VIX Short-Term Futures Exchange Traded Note (“ETN”) under the symbol “VXXB” (hereinafter “VXX”) due to selling VXX ETNs, selling VXX call options, and/or buying VXX put options and who held that position as of the close of market on March 13, 2022. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 17, 2024.
The case is against Barclays PLC, Barclays Bank PLC, James E. Staley, Tushar Morzaria, and C.S. Venkatakrishnan (together, “Defendants”).
SO WHAT: If you acquired a short position of VXX ETNs you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Barclays class action, go to https://rosenlegal.com/submit-form/?case_id=23523 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 17, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, Barclays failed to inform investors and the market that it had not implemented any internal controls to monitor the issuances of securities from its shelf registrations, and that it had issued and sold billions of dollars of unregistered securities, including VXX ETNs, in violation of the federal securities registration laws. Barclays illegally sold over $17 billion of unregistered securities over approximately 18 months. Once its misconduct came to light, Barclays had to suddenly and without warning suspend any further issuances and sales of new VXX ETNs. This suspension of sales, which was announced just before the market opened on March 14, 2022, caused the market price of VXX to skyrocket and investors who were short VXX to suffer substantial losses.
To join the Barclays class action, go to https://rosenlegal.com/submit-form/?case_id=23523 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
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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
case@rosenlegal.com
www.rosenlegal.com
source: The Rosen Law Firm PA
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