Barclays enlists outside help in dark pools probe

World News: . []

People walk inside Barclays Bank's headquarters in the financial district of Canary Wharf, east LondonBy Steve Slater and Sarah N. Lynch LONDON/WASHINGTON (Reuters) - Barclays Plc has hired lawyers from the high-profile firm Wilmer Cutler Pickering Hale and Dorr LLP to help the bank defend itself against accusations that it deceived investors in its "dark pool" trading venue, according to people familiar with the matter. Matthew Martens, formerly the chief litigator at the U.S. Securities and Exchange Commission, is among the WilmerHale lawyers working on the case, the sources said. Martens is known for leading the SEC to victory in its civil fraud trial against Fabrice "Fabulous Fab" Tourre, the former Goldman Sachs vice president who was found liable by a New York jury for misleading investors in a subprime mortgage product that failed during the financial crisis. Barclays' shares slid 6.5 percent on Thursday to a 19-month low after New York Attorney General Eric Schneiderman filed a securities fraud lawsuit that takes aim at the British bank's "dark pool" trading venue, known as LX Liquidity Cross.

Read More: LINK 

Published: .

Search for other references to "barclays" on SPi News


Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.
Privacy Policy | Terms and Conditions | Contact Us