Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
BCLYF.US
id: 1105

loss on VXX trade from sudden share sale halt

I am writing to bring to your attention an issue I encountered in March 2022 regarding the sudden halting of sales and issuance of VXX shares (iPath Series B S&P 500 VIX Short-Term Futures ETN), which has resulted in significant financial loss for me.
On February 24 & 25, 2022, I opened a short position on VXX for a total of 588 shares at an average weighted price of $26.443
3 weeks later, on 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 is when I was forced to close the position for lack of margin and fear of further losses.
Accordingly, I suffered a loss of $5,727.14 on closing the 588 shares position at average weighted price of $36.183.
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
Inactive Investigation
Alleged Offence
Mismanagement
Failure to Disclose
Malpractice
Negligence
Breach of Fiduciary duty
Suspected Party
Shareholder
Security Type
Stocks
Trade Direction
Short
Shock Event Date
03/14/2022
Collecting participants…

Barclays PLC

Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK; Barclays UK Corporate Bank...

    Ticker
    BCLYF.US
    ISIN
    GB0031348658
    CIK
    0000312069
    Sector
    Financial Services
    Industry
    Banks - Diversified
    Country
    USA
    Address
    1 Churchill Place, London, United Kingdom, E14 5HP