07:40 AM EDT, 10/25/2024 (MT Newswires) -- Barclays ( JJCTF ) won its bid to reduce a shareholder lawsuit worth up to 560 million pounds ($727 million) by more than half at London's High Court, Reuters reported on Friday.

The lawsuit concerned allegations that Barclays ( JJCTF ) misled the market about its private "dark pool" trading platforms.

The lawsuit stemmed from a 2014 incident when more than 2 billion pounds was wiped off Barclays' ( JJCTF ) value following a complaint from New York's attorney general regarding the trading system "Barclays LX."

A judge ruled that investors relying solely on Barclays' ( JJCTF ) share value or listed status could not pursue their claims, adding that this might facilitate an earlier settlement, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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