Barclays To Shell Out $27M To Settle Investors' Dark Pool Suit

Law360 (January 29, 2019, 4:52 PM EST) -- Barclays PLC has agreed to pay $27 million to end a securities fraud class action that has dragged on for more than four years over the bank’s alleged mismanagement of its off-exchange trading pool.

The investors filed an unopposed motion for preliminary approval of a settlement with Barclays and its former head of equities electronic trading William White in New York federal court Monday. With the court’s approval, the settlement abates the suit, in which investors claimed the bank hid or downplayed problematic practices in managing its dark pool until the former New York attorney general exposed it in a 2014 lawsuit....

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