Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 602

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 602
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 dismissal. The plaintiffs did not seek US Supreme Court review, thereby concluding the matter. In addition, certain plaintiffs have filed a related, direct action against BCI and certain other financial institutions, alleging that defendants conspired to fix and manipulate the US Treasury securities market in violation of the Antitrust Act, the CEA and state common law. This action remains stayed. Supranational, Sovereign and Agency bonds civil actions Civil antitrust actions have been filed in the Federal Court of Canada in Toronto against Barclays Bank PLC, BCI, BX, Barclays Capital Securities Limited and Barclays Capital Canada Inc. and other financial institutions alleging that the defendants conspired to fix prices and restrain competition in the market for US dollar-denominated Supranational, Sovereign and Agency bonds. The parties have reached a settlement, which has received final court approval and has been paid. The financial impact of the settlement is not material to the Group’s operating results, cash flows or financial position. Variable Rate Demand Obligations civil actions Civil actions have been filed against Barclays Bank PLC and BCI and other financial institutions alleging the defendants conspired or colluded to artificially inflate interest rates set for Variable Rate Demand Obligations (VRDOs). VRDOs are municipal bonds with interest rates that reset on a periodic basis, most commonly weekly. An action in state court has been filed by private plaintiffs on behalf of the state of California and the matter is in discovery. Three putative class action complaints have been consolidated in the SDNY. In the consolidated SDNY class action, certain of the plaintiffs’ claims were dismissed in 2020 and 2022 and the plaintiffs’ motion for class certification was granted in 2023, which means the case may proceed as a class action. The defendants are appealing this decision.

| Strategy                                                           | Shareholderinformation | Climate andsustainability report | Governance | Riskreview | Financialreview |     | Financialstatements |     | Barclays PLC 2024Annual Reporton Form 20-F | 415 |
| Notes to the financial statements (continued)                      |                        |                                  |            |            |                 |     |                     |     |                                            |     |
| Accruals, provisions, contingent liabilities and legal proceedings |                        |                                  |            |            |                 |     |                     |     |                                            |     |

Odd-lot corporate bonds antitrust class action In 2020, BCI, together with other financial institutions, were named as defendants in a putative class action in the US. The complaint alleges a conspiracy to