10:12 AM EST, 12/04/2024 (MT Newswires) -- (Updates with Barclays' ( JJCTF ) response in the fourth paragraph.)

Barclays ( JJCTF ) agreed to a $19.5 million settlement for a case in New York in which shareholders accused the bank of securities fraud after selling an excess of $17.7 billion debt to what regulators allowed, Reuters reported Wednesday, citing a court filing.

A preliminary settlement of the proposed shareholder class action lawsuit was filed Tuesday, and requires US District Judge Katherine Polk Failla's approval, Reuters said.

The bank continued to deny wrongdoing in connection to the settlement, the court filing reportedly showed.

Barclays ( JJCTF ) declined MT Newswires' request for comment.

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