Barclays halting sales and issuance of VXX shares

The case has been dismissed, typically without any further action.

S.D. New York

Court

1:24-cv-01872

Case number

06/26/2019

Class period Start

03/13/2022

Class period End

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 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 Type

US Securities Class Action

Case Status

Dismissed

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

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