Barclays Securities Litigation
HomeCase DocumentsContact UsFile Claim

Welcome to the Barclays Securities Litigation Website

This website has been established to provide general information regarding the proposed settlement of the consolidated action entitled Carpenters Pension Trust Fund of St. Louis v. Barclays PLC, Civil Action No. 1:12-cv-05329-SAS, pending in the United States District Court for the Southern District of New York (the "Court'). The capitalized terms used on this website and not defined herein shall have the same meanings ascribed to them in the Stipulation of Settlement dated November 24, 2015 (the "Stipulation").  Your rights may be affected by this settlement if you purchased or otherwise acquired Barclays PLC ("Barclays") American Depositary Shares ("ADS") between July 10, 2007 and June 27, 2012, inclusive (the "Class Period").

As more fully described in the Notice of Proposed Settlement of Class Action (the "Notice"), the Class Representatives’ allegations pertain to conduct relating to Barclays’ London Interbank Offered Rate (“LIBOR”) submissions.  LIBOR rates serve as benchmark interest rates for financial transactions all over the world.  The published LIBOR rates for several currencies and borrowing periods have been calculated daily based on daily submissions made by designated panels of banks, including Barclays.

The Class Representatives allege that, during the Class Period, Defendants made false and misleading statements regarding, among other things, U.S. Dollar LIBOR submissions that attempted to influence the market’s perception of Barclays’ financial health and liquidity.  The complaint was brought on behalf of a proposed class consisting of all persons and entities that purchased or otherwise acquired Barclays ADS during the Class Period.

All Defendants deny each and all of the claims and contentions of wrongdoing alleged by the Class Representatives in the Litigation.  Defendants also contend that any losses suffered by Class Members were not caused by any false or misleading statements by Defendants.  Defendants also maintain that they have meritorious defenses to all claims that were raised or could have been raised in the Litigation.

The parties have engaged in extensive motion practice and discovery, and on September 10, 2015, attended a mediation session before the Honorable John S. Martin (Ret.), a retired United States District Court Judge. With the continued assistance of Judge Martin following that mediation, and after arm’s-length negotiations, the parties reached an agreement in principle to settle the Litigation.

In exchange for the release of the Released Claims against each of Defendants and their Related Parties, as well as dismissal of the Litigation as against Defendants, Defendants have agreed to pay $14,000,000 in cash. The balance of this fund after payment of Court-approved attorneys’ fees and expenses, and Class Representatives’ time and expenses in representing the Class, taxes, and the costs of claims administration, including the costs of printing and mailing the Notice and the cost of publishing newspaper notice will be divided among all eligible Class Members who send in a valid Proof of Claim.

The Court appointed Robbins Geller Rudman & Dowd LLP to represent you and the other Class Members. These lawyers are called Lead Counsel or Class Counsel.  You will not be charged directly for these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense. 

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above.  We recommend that you read the Notice and other relevant case documents carefully.


SUBMIT A PROOF OF CLAIM AND RELEASE FORM The only way to get a payment.
GO TO A HEARING Ask to speak in Court about the fairness of the settlement.
DO NOTHING Get no payment. Give up your rights.
EXCLUDE YOURSELF Get no payment.  This is the only option that allows you to ever bring a lawsuit against Defendants or their Related Parties concerning the legal claims at issue in this case.
OBJECT Write to the Court about why you do not like the settlement.


Submit Claim: March 21, 2016
Request Exclusion: February 22, 2016
File Objection: February 22, 2016
Court Hearing on Fairness of Settlement: March 14, 2016 at 4:30 p.m.