New York AG To File Securities Fraud Lawsuit Against Barclays: Source
The New York Attorney General is set to file a securities fraud lawsuit against Barclays PLC for misrepresenting the safety of its U.S.-based alternative trading system, or “dark pool,” to investors. The lawsuit, which the Attorney General will announce at 4 p.m. on Wednesday, alleges that Barclays operates its dark pool to favor high-frequency traders and has actively sought to attract them by giving them systematic advantages over others trading in the pool. Barclays declined to comment.
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