An investigation on behalf of current long term investors in NASDAQ:GLBR shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:GLBR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/11/2017 -- An investigation was announced for investors in shares of Global Brokerage Inc (NASDAQ:GLBR) concerning potential breaches of fiduciary duties by certain directors.
Investors who are current long term investors in Global Brokerage Inc (NASDAQ:GLBR) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm for investors in NASDAQ:GLBR stocks follows a lawsuit filed recently against Global Brokerage Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:GLBR stocks, concerns whether certain Global Brokerage directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that the Defendants made false and/or misleading statements and/or failed to disclose that between September 4, 2009 through at least 2014, FXCM's U.S. subsidiary engaged in false and misleading solicitations of its retail foreign exchange customers by concealing its relationship with its most important market maker and by misrepresenting that its "No Dealing Desk" platform had no conflicts of interest with its customers, that FXCM's U.S. subsidiary made false statements to the National Futures Association about its relationship with the market maker, and that as a result, Defendants' statements about FXCM's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On February 6, 2017, the Commodities Futures Trading Commission ("CFTC") found that FXCM Inc was engaged in false and misleading solicitations of its retail foreign exchange customers. According to the CFTC, FXCM Inc covered up both its relationship with the Company's most crucial market maker, and that the fact that the Company's "No Dealing Desk" platform had conflicts of interest with FXCM's customers.
Shares of Global Brokerage Inc, formerly FXCM Inc (NASDAQ:GLBR, formerly NASDAQ:FXCM) declined from $7.25 per share on February 2, 2017 to as low as $2.75 per share on February 8, 2017.
Those who purchased shares of Global Brokerage Inc, formerly FXCM Inc (NASDAQ:GLBR, formerly NASDAQ:FXCM) have certain options and should contact the Shareholders Foundation.
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