Barclays Seeks Dismissal of New York Dark Pool Lawsuit
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Barclays Plc asked a judge to throw out New York Attorney General Eric Schneiderman’s lawsuit that accused the bank of lying to customers and hiding the role of high-frequency traders to boost its dark pool profile.
The London-based bank said the lawsuit fails to show any investors were harmed and is based on “clear and substantial factual errors,” according to a filing today in Manhattan state court. The attorney general’s office also took New York’s securities law -- the Martin Act -- too far in bringing the lawsuit, the bank alleged.