International Business Machines Corp
Change company Symbol lookup
Select an option...
IBM International Business Machines Corp
SR Spire Inc
DCF BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.
KTRA Kintara Therapeutics Inc
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN
BILL Holdings Inc
AUB Atlantic Union Bankshares Corp
TSM Taiwan Semiconductor Manufacturing Co Ltd
STNG Scorpio Tankers Inc
FFIE Faraday Future Intelligent Electric Inc

Information Technology : IT Services | Large Cap Value
Company profile

International Business Machines Corporation (IBM) is a technology company engaged in providing hybrid cloud and artificial intelligence (AI) solutions. It offers integrated solutions and products that use data and information technology (IT) in industries and business processes. Its segments include Software, Consulting, Infrastructure and Financing. Software segment consists of two business areas: Hybrid Platform & Solutions, which includes software to help clients operate, manage, and optimize their IT resources and business processes within hybrid, multi-cloud environments, and Transaction Processing, which includes software that supports clients’ mission-critical, on-premises workloads in various sectors. Consulting segment is engaged in business transformation, technology consulting and application operations. Infrastructure segment is engaged in hybrid infrastructure and infrastructure support. Financing segment is engaged in client financing and commercial financing business.

Closing Price
Day's Change
-0.38 (-0.26%)
B/A Size
Day's High
Day's Low

10-day average volume:

BARCLAYS PLC (NYSE:BCS) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Barclays PLC (NYSE:BCS)

12:32 pm ET September 29, 2022 (Accesswire) Print

Did you lose money on investments in Barclays? If so, please visit Barclays PLC Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or to discuss your rights.

NEW YORK, NY / ACCESSWIRE / September 29, 2022 / Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Barclays PLC ("Barclays" or the "Company") American Depositary Receipts ("ADRs") between February 18, 2021 and March 25, 2022, inclusive (the "Class Period"). The lawsuit was filed in the United States District Court for the Southern District of New York and alleges violations of the Securities Exchange Act of 1934.

Bernstein Liebhard LLP, Thursday, September 29, 2022, Press release picture

Barclays is a British universal bank, offering consumer banking and payments services in the United Kingdom ("U.K."), United States ("U.S."), and Europe, as well as global corporate and investment banking services.

Barclays 2020 Annual Report on Form 20-F, filed with the SEC on February 18, 2021 ("2020 Barclays 20-F"), and 2021 Annual Report on Form 20-F, filed with the SEC on February 23, 2022 ("2021 Barclays 20-F"), informed investors that Barclays' internal controls over financial reporting were effective.

However, these statements were materially false and misleading, or failed to disclose material information necessary to make statements in the Form 20-Fs not misleading, in violation of Section 10(b) of the Exchange Act and Rule 10b-5.

As Barclays has since admitted, during the Class Period, Barclays internal controls over financial reporting were not effective, and there was a material weakness in those controls, due to the fact that starting on February 18, 2021, BBPLC, a wholly owned subsidiary of Barclays, issued and sold approximately $17.64 billion in unregistered securities over and above the maximum amount of securities registered in two BBPLC shelf registration statements, and the fact that the over-issuance was not immediately discovered.

Barclays 2021 quarterly earnings releases and 2021 20-F were also materially false and misleading, or failed to disclose material information necessary to make the statements made therein not misleading because, among other reasons, (a) they failed to disclose the over-issuance, and that BBPLC was violating U.S. securities laws and/or SEC regulations, subjecting Barclays to legal liability and claims of rescission, and (b) as a result, Barclays' reported litigation and conduct expenses and total operating expenses were understated, and Barclays' reported net profit was overstated.

On March 28, 2022, before the trading market for Barclays ADRs opened for the day, Barclays announced the over-issuance for the first time, that BBPLC had issued approximately $15.2 billion in unregistered securities under an August 2019 shelf registration statement, that BBPLC would commence a rescission offer for those unregistered securities, and that Barclays expected the rescission losses to be c.£450m. This disclosure revealed to the market not only the fact of the over-issuance and Barclays liability for claims of rescission, but that Barclays did not have adequate internal controls to account for issued securities and prevent such an over-issuance of unregistered securities tied to a shelf registration statement.

On this news, Barclays' ADR price fell $0.96 per ADR to close at $8.09 per ADR on March 28, 2022.

Then, on July 28, 2022, before the trading market for Barclays ADRs opened for the day, Barclays issued interim financial results for the quarter ending June 30, 2022, and announced for the first time that BBPLC had also over-issued unregistered securities under a second BBPLC shelf registration statement. The July 28, 2022 financial results announcement also informed investors that Barclays had provisioned "£1,592m [approximately $1.940 billion] (December 2021: £220m) related to the overissuance of structured notes and £165m [approximately $201 million] (December 2021: nil) related to liabilities that could be incurred arising out of ongoing discussions in respect of a potential SEC resolution."

On this news, Barclays' ADR price fell $0.41 per ADR to close at $7.48 per ADR on July 28, 2022.

If you wish to serve as lead plaintiff, you must move the Court no later than November 22, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased or otherwise acquired Barclays ADRs, and/or would like to discuss your legal rights and options please visit Barclays PLC Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2022 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information:

Peter Allocco

Bernstein Liebhard LLP

(212) 951-2030

SOURCE: Bernstein Liebhard LLP

View source version on

comtex tracking


Earnings Calendar and Events Data provided by |Terms of Use| © 2022 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2022. All rights reserved.