BARCLAYS ALERT

Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Barclays PLC and Encourages Investors to Contact the Firm

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Barclays PLC (“Barclays” or the “Company”) (NYSE: BCS) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Barclays securities between February 18, 2021 and March 25, 2022, both dates inclusive (the “Class Period”). Investors have until November 22, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

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Barclays is a British universal bank. Its businesses include consumer banking and payments operations around the world, as well as global corporate and investment banking.

Barclays has disclosed that starting on February 18, 2021, Barclays Bank PLC ("BBPLC"), a wholly owned subsidiary of Barclays, issued and sold approximately $17.64 billion in unregistered securities over and above the maximum amount of securities registered in two BBPLC shelf registration statements. Barclays has also admitted that "by virtue of the fact that the over-issuance occurred and was not immediately identified, both [Barclays] and BBPLC had a material weakness in relation to certain aspects of their internal control environment and, as a consequence, their internal control over financial reporting for the year ended 31 December 2021 was not effective." As a result of the over-issuance, Barclays has restated its financial statements included on its Annual Report on Form 20-F for the year ended December 31, 2021. BBPLC has also commenced a rescission offer for the unregistered securities.

The truth began to emerge on Monday March 28, 2022, when, before the trading market for Barclays ADRs opened for the day, Barclays disclosed the over-issuance for the first time, and informed investors that BBPLC had issued approximately $15.2 billion in unregistered securities in excess of the maximum amount of securities registered in an August 2019 shelf registration statement, that BBPLC would commence a rescission offer for those unregistered securities, and that Barclays expected the rescission losses to be c.£450m (approximately $589.5 million). In response to this news, the price of Barclays ADRs declined 10.61%, or $0.96 per ADR, from a closing price on Friday March 25, 2022 of $9.05 per ADR to a closing price of $8.09 per ADR on Monday March 28, 2022, the next trading day.