A lawsuit was filed on behalf of investors in Investment Technology Group (NYSE:ITG) shares over alleged securities laws violations and NYSE:ITG investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/25/2015 -- An investor in shares of Investment Technology Group (NYSE:ITG), filed a lawsuit over alleged violations of Federal Securities Laws by Investment Technology Group.
Investors who purchased shares of Investment Technology Group (NYSE:ITG) have certain options and for certain investors are short and strict deadlines running. Deadline: October 5, 2015. NYSE:ITG investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The plaintiff claims that between February 28, 2011 and July 29, 2015 defendants issued allegedly materially false and misleading statements to investors and/or failed to disclose that Investment Technology Group's AlterNet Securities, Inc. subsidiary operated a proprietary trading operation in 2010 through mid-2011 inside of ITG's POSIT dark pool, a private stock trading platform, against some of its broker clients, that the proprietary trading operation used information from customer stock orders within ITG's dark pool, as well as information from Investment Technology Group clients that used the firm's algorithms to execute trades on other trading platforms, which should not have been available, and that as a result of the foregoing, Investment Technology Group's public statements were materially false and misleading at all relevant times.
On July 29, 2015, Investment Technology Group announced that it negotiated a potential settlement with Securities and Exchange Commission ("SEC") related to how it ran its private stock trading venue or "dark pool." Based on the terms of the potential settlement, Investment Technology Group would pay an aggregate amount of $20.3 million, which represents a civil penalty of $18 million, disgorgement of approximately $2.1 million in trading revenues and prejudgment interest of approximately $250,000. Shares of Investment Technology Group (NYSE:ITG) declined on July 30, 2015, to as low as $17.84 per share, respectively $15.01 per share on August 24, 2015
Those who purchased shares of Investment Technology Group (NYSE:ITG) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego