U.S. District Judge Shira Scheindlin of the Southern District of New York recently certified a class in Strougo v. Barclays PLC, 14 Civ. 5797 (SAS), (S.D.N.Y. Feb. 2, 2016), a high-profile securities class action based on the “price maintenance” theory. The plaintiffs alleged that Barclays made false or misleading statements by overstating the transparency and safety of Barclay’s “Liquidity Cross,” or “LX,” a private trading space where investors can trade in relative anonymity.
