Barclays withdraws bond offering after dark pool lawsuit

|About: Barclays PLC (BCS)|By:, SA News Editor

Barclays (BCS) has withdrawn a $1.5B bond offering, after yesterday's news that NY attorney general Eric Shneiderman will sue the bank for securities fraud. The bank already received more than $4.5B in orders for the 10-year subordinated deal, before the lawsuit took its toll.

The claim accuses Barclays of favoring high frequency traders over other investors, and charges the bank of falsely representing the concentration of HFT in its dark pool.

BCS -0.3% AH