Law360, Los Angeles (June 9, 2016, 11:24 PM EDT) -- A New York federal judge on Thursday certified a class of Barclays Bank Plc stockholders who claim the bank misled them in offering materials ahead of its $2.5 billion public offering in April 2008, saying the lead plaintiff has standing and is an adequate class representative.U.S. District Judge Paul A. Crotty's ruling certified a class of purchasers of Barclays' "Series 5" shares who are asserting strict liability and negligence-based claims against the bank under the Securities Act for allegedly making misleading statements and omissions about its credit market exposures, asset valuations and risk management practices ahead of the housing market... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
Barclays Bank Plc stockholders have been granted class certification after a New York federal judge found the lead plaintiff has adequate standing and is an appropriate class representative. The stockholders have launched action following claims they were misled by Barclays when the bank offered them materials ahead of its public offering worth $$2.5 billion in 2008.