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VXX.US
id: 1106
Barclays halting sales and issuance of VXX shares
S.D. New York
Court1:24-cv-01872
Case number06/26/2019
Class period Start03/13/2022
Class period EndOn March 14th 2022, Barclays announced it had temporarily suspended the sales and issuance of VXX shares.
This led the price to spike by nearly 60% by the next day which caused significant losses to short sellers.
The bank’s failure to more quickly disclose that it had exceeded the number of VIX Short-Term Futures ETN (VXX) that it had permission to sell violated federal securities law.
This failure led to the sudden halt of share sales and ultimately the price spike.
Case Status
Motion to dismiss
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Malpractice,
Negligence,
Breach of Fiduciary duty
Suspected Party
Management,
Investment Bank,
Service Provider
Security Type
Unit (ETF, ETN, Unit)
Trade Direction
Short
Shock Event Date
03/14/2022
Filing date
03/12/2024