Investors who have incurred losses are invited to join a class action lawsuit against Barclays PLC, alleging securities fraud linked to former CEO Jes Staley’s undisclosed relationship with Jeffrey Epstein. The lawsuit, spearheaded by Levi & Korsinsky, LLP, addresses the period from July 22, 2019, to October 12, 2023, and focuses on claims that Staley misrepresented his connection to Epstein while being aware of his criminal activities. Barclays is also accused of providing the Financial Conduct Authority (FCA) with misleading information regarding Staley’s ties to Epstein.
The allegations raise concerns about the accuracy of Barclays’ public disclosures and business projections during this period. Shareholders who suffered losses have until January 2, 2024, to apply as lead plaintiffs in the case. Those interested in participating or seeking more information can reach out to Joseph E. Levi, Esq., at Levi & Korsinsky without any cost or obligation.
Levi & Korsinsky is recognized for its expertise in complex securities litigation and has a track record of recovering substantial sums for shareholders. The firm boasts a team of over 70 employees and has been consistently ranked among the top firms in U.S. securities litigation by Securities Class Action Services’ Top 50 Report.
Despite the ongoing lawsuit, Barclays PLC (BCS) has demonstrated financial resilience. The company has raised its dividend for three consecutive years, a noteworthy InvestingPro Tip that may interest income-focused investors. Furthermore, BCS is trading at a low Price/Book multiple, indicating potential undervaluation.
InvestingPro data provides additional insights into Barclays’ financial health. As of Q3 2023, BCS had a market capitalization of $26.84B and a P/E ratio of 4.1, further suggesting an undervalued stock. The company also generated $28,980.31M in revenue over the last twelve months, showing stable operational performance.
InvestingPro offers a wealth of additional tips and data that can help investors make informed decisions. Currently, there are additional tips available for BCS on the InvestingPro platform, which is now on a special Black Friday sale with a discount of up to 55%.
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