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All About Barclays Lawsuits

Learn what Barclays lawsuits are out there, and how to take action…

Barclays is such a colossal business that it is hard to find investment opportunities that don’t have ties to their bank. With offices overseas too, it is no wonder people ask about Barclays dispute help.

If you have issues like Barclays hidden fees, you might contact Barclays customer service, but find that this results in hours on hold and no resolution. So what next? Now you can file a complaint against Barclays. But what about lawsuits? Can you sue Barclays? 

 

1

Are lawsuits allowed against Barclays?

When you look at your user agreement with Barclays, you’ll probably find that the small print doesn’t let you sue Barclays except in small claims court because of an arbitration clause. This can be expensive and time-consuming which is why consumer arbitration is a great alternative.

2

What is a Class Action Lawsuit? Can I file a Class Action Lawsuit against Barclays?

A class-action lawsuit is meant to bring a group of individuals together who all have the same complaint. However, if you have an arbitration clause in your contract you might not be able to join a class action lawsuit or file one.

 

Sometimes you might still see lawsuits against big banks like Barclays that are usually brought on behalf of government agencies who have more options than most consumers.

3

As a Barclays customer, what are my options for a lawsuit?

The first option you have as a Barclays customer for a lawsuit is a small claims court case. Small claims court only works for qualifying cases, and the qualifications vary depending on your state. You have to pay court fees, file the right paperwork, and go to a court hearing.

Alternatively you can use something like consumer arbitration to argue your case before an independent arbitrator who can force Barclays to fix the problem and give compensation.

4

Recent and notable Barclays lawsuits:

Barclays Dutch derivatives lawsuit

Barclays was the subject of a Dutch derivatives lawsuit in 2021. In this case, Barclays was sued for almost 326 million dollars for its involvement in a derivatives debacle by a Dutch a fordable housing provider. Allegedly Barclays paid commissions on derivative transactions to an intermediary, associated with accusations of bribery. 

Barclays securities class action lawsuit

Barclays was involved in a 2019 class action lawsuit involving securities and defrauding investors. Barclays agreed to a 27 million-dollar settlement in a case alleging that Barclays concealed information and misled consumers who were involved in a private trading platform selling Barclays American depositary shares.

Barclays fraud lawsuit for mortgage backed securities

In the United States the Department of Justice filed a civil complaint against Barclays alleging that they engaged in a fraudulent scheme to sell residential mortgage-backed securities that were misrepresented between 2005 and 2007. The Department of Justice noted that this type of widespread fraud in the form of packaging and selling residential mortgage-backed securities injured tens of thousands of investors and directly contributed to the 2008 financial crisis. 

Barclays lawsuit with Amanda Staveley

This business woman said that the bank misled her while she was working for the company during the 2008 financial crisis. She sued them for 1.5 billion dollars claiming that Barclays agreed to demands for advisory fees and unsecured loans, but didn’t follow through. A judge rejected her claim but still found Barclays guilty of serious deceit.

Barclays gold price fixing lawsuit

In 2021 Barclays settled for 50 million dollars to resolve claims that they were guilty of gold price fixing. This settlement was the third of its kind related to this claim. The plaintiff alleged that Barclays held secret meetings where they traded information about gold prices in real time and changed the prices to better benefit the bank.

Barclays anti-terrorism bank lawsuit

Barclays was one of 6 banks named in an anti-terrorism lawsuit by the United States. The Department of Defense stated that Barclays along with the other Banks allegedly backed terrorist groups and helps move money that was transferred directly to militant groups or terrorist bank accounts.

Barclays Fair Credit Reporting Act lawsuit

Barclays was part of a 2021 class action lawsuit in a New Jersey Federal Court alleging that they violated the Fair Credit Reporting Act. This case is ongoing.

Barclays employment lawsuit

Barclays settled an employment lawsuit from a next Barclays banker who claimed the company was guilty of sex discrimination and sexist language.

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