People v. Barclays Capital Inc.

OPINION OF THE COURT

Shirley Werner Kornreich, J.

Defendants Barclays Capital Inc. and Barclays PLC (collectively, Barclays) move, pursuant to CPLR 3211, to dismiss the original complaint filed by plaintiff, the Attorney General of the State of New York (the NYAG). Defendants’ motion is granted in part and denied in part for the reasons that follow.

I. Background

This is an action by the NYAG to hold Barclays liable for allegedly false and misleading statements made about its dark pool, known as “Barclays LX” (the Dark Pool). A dark pool, an “Alternative Trading System” (ATS), is a private…