Faqs
Barclays Securities Class Action
What is a class action?
Sometimes a large group of people are injured by a common act. A class action is a legal mechanism that permits a class of people who have been similarly injured to bring a single lawsuit to address the harm rather requiring each individual to bring a separate lawsuit.
In a class action, the Court appoints one or more persons from the class as lead plaintiffs and their attorneys as lead counsel. Lead plaintiffs and lead counsel are responsible for prosecuting the case on behalf of the entire class.
What do I have to do to participate in the case?
At this time, nothing. If this case results in a settlement, notice will be sent to all qualifying class members. At that time, class members will have the opportunity to opt-out of the settlement and pursue their claims on their own. Qualifying class members who do not opt out will automatically be eligible to participate in their share of the settlement funds.
How long will the case take?
Simply put, we do not know. Lawsuits tend to move slowly, frequently lasting for years, not months.
How much will I get?
Again, at this time, we do not know. The Court will determine whether the case should proceed as a class action, how the class should be defined (and therefore who is in it), and how the class should be notified. The Court will also preside over trial if the case does not settle before trial, and if it does settle, the Court will approve or reject any settlement. All of these decisions may affect whether there is a recovery and what portion you may be entitled to.
What should I do?
Check back here periodically for new information. Pay attention to any notices you may receive by mail or email regarding Barclays or VXX Securities Litigation. Such communications may come from us, our vendor, Barclays, or the institution through which you made your VXX investment.
