Barclays Dark Pool Class Action Dismissal Upheld For Failure To Plead Reliance

Mealey's (August 1, 2018, 10:21 AM EDT) -- SAN FRANCISCO — A Ninth Circuit U.S. Court of Appeals panel on July 30 affirmed a federal district court’s dismissal of claims against Barclays PLC and one of its subsidiaries for allegedly misrepresenting its ability monitor its Liquidity Cross (LX) dark pool private trading venue, ruling that an investor failed to properly plead reliance with the necessary particularity (Great Pacific Securities, et al. v. Barclays Capital Inc., et al., No. 16-56804, 9th Cir., 2018 U.S. App. LEXIS 21044)....