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Pomerantz LLP: Summary Notice Of Pendency And Proposed Settlement Of Class Action For All Persons Who Purchased Or Otherwise Acquired American Depository Shares (“ADS”) Of Barclays PLC During The Period Between August 2, 2011 And June 25, 2014, Both Da…

/EIN News/ -- SEATTLE, March 04, 2019 (GLOBE NEWSWIRE) --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

   
BARBARA STROUGO, Individually and on
Behalf of All Others Similarly Situated,

Plaintiff(s),
v.

BARCLAYS PLC, BARCLAYS CAPITAL INC.,
ROBERT DIAMOND, ANTONY JENKINS,
CHRISTOPHER LUCAS, TUSHAR MORZARIA,
and WILLIAM WHITE,

Defendants.
Case No. 1:14-cv-05797-VM-DCF

ECF CASE
   

Notice is hereby given pursuant to an Order of the United States District Court for the Southern District of New York that a hearing will be held on May 31, 2019, at 10:00 a.m. before the Honorable Victor Marrero, United States District Judge of the Southern District of New York, United States Courthouse, 500 Pearl Street, Courtroom 11B, New York, New York 10007 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $27,000,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for an award of attorneys’ fees of up to thirty percent of the Settlement Amount ($8,100,000) plus interest, reimbursement of expenses of not more than $1,000,000, and a Compensatory Award to Plaintiffs of no more than $35,000 collectively (or $20,000 to Class Representative Mohit Sahni and $15,000 to Class Representative Joseph Waggoner) should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement dated January 28, 2019 (the “Settlement Stipulation”).

If you purchased or otherwise acquired American Depository Shares (“ADSs”) of Barclays PLC (“Barclays” or the “Company”) between August 2, 2011 and June 25, 2014, both dates inclusive (the “Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Barclays ADSs. If you have not received a detailed Notice Of Proposed Settlement Of Class Action (“Notice”) and a copy of the Proof of Claim and Release Form, you may obtain copies by visiting www.Barclayslxsecuritieslitigation.com or by contacting the Claims Administrator toll-free at 1-888-593-6794 or at info@Barclayslxsecuritieslitigation.com. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form to the Claims Administrator at the address listed in the detailed Notice and postmarked no later than June 7, 2019, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim. 

If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is postmarked no later than May 10, 2019, in the manner and form explained in the Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.

Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Plaintiffs must be in the manner and form explained in the detailed Notice and postmarked no later than May 10, 2019, to each of the following:

Clerk of the Court Lead Counsel Counsel For Defendants
United States District Court
Southern District of New York
500 Pearl Street
New York, NY 10007
Jeremy A. Lieberman
POMERANTZ LLP
600 Third Avenue, Floor 20
New York, NY 10016
Jeffrey T. Scott
SULLIVAN &
CROMWELL LLP
125 Broad Street
New York, New York 10004

If you have any questions about the Settlement, you may visit www.Barclayslxsecuritieslitigation.com or write to Lead Counsel at the above address. PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

Dated: February 4, 2019
BY ORDER OF THE UNITED STATES DISTRICT COURT
FOR THE SOUTHERN DISTRICT OF NEW YORK

Distribution channels: Consumer Goods, Law


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