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VXX.US
id: 1204

Barclays PLC Issuing Unregistered Securities (VXX) case

S.D. New York
Court
1:24-cv-01872
Case number
26 Jun 2019
Class period Start
13 Mar 2022
Class period End
17 May 2024
Lead Plaintiff motion deadline
  • In March 2022, Barclays suddenly suspended issuances and sales of new VXX ETNs.
  • On it, $VXX price rose 9.3%, causing losses to investors who were short $VXX.
  • Acquirers of short position in Barclays' $VXX ETNs can join this case to be notified about potential recovery.
Barclays had not implemented any internal controls to monitor the issuance of securities from its shelf registrations.

With absense of proper controls, Barclays sold $17 billion of unregistered securities over 18 months in violation of the federal securities registration laws.

When this information came to light, Barclays had to suddenly suspend issuances and sales of new VXX ETNs.

Upon suspension of sales, $VXX increased 9%+, hurting investors who were short $VXX.

One of the investors has already filed a class action against the Company for overstating revenue guidance. in S.D. New York court.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Short
Shock Event Date
14 March 2022
Filing date
12 March 2024
Lead Plaintiff Deadline
17 May 2024
Judge
Hon. Lewis J. Liman
Collecting participants…

iPath Series B S&P 500 VIX Short-Term Futures ETN

The ETN offers exposure to futures contracts of specified maturities on the VIX index and not direct exposure to the VIX index or its spot level. The index is designed to provide investors with exp...

    Ticker
    VXX.US
    ISIN
    US06740C2614
    Country
    USA