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Litigation

Aug. 2, 2014

Barclays hit with federal class action suit

Barclays PLC and its affiliates were hit with a federal class action lawsuit late Thursday claiming the investment wing of the bank had committed "deceit by concealment" relating to operation of a "dark pool" private stock-trading platform.

By Henry Meier

Daily Journal Staff Writer

Barclays PLC and its affiliates were hit with a federal class action lawsuit late Thursday claiming the investment wing of the bank had committed "deceit by concealment" relating to operation of a "dark pool" private stock-trading platform.

The complaint, filed by plaintiffs' firm Cotchett, Pitre & McCarthy LLP, alleged the banks allowed so-called "high frequency" traders to participate in the Barclays LX dark pool platform,...

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