SAN DIEGO, Jan. 24, 2017 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending in New York on behalf of certain purchasers of shares of Investment Technology Group (NYSE:ITG) over alleged Securities Laws Violations by Investment Technology Group.
Investors who purchased shares of Investment Technology Group (NYSE ITG) before January 2011 and continue to hold any NYSE: ITG shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
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.
On August 5, 2015, a lawsuit was filed against Investment Technology Group over alleged securities laws violations. The plaintiff alleged that the 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 December 14, 2015 an amended complaint was filed and on May 2, 2015, the defendant’s motion to dismiss the case was filed.
Those who purchased Investment Technology Group (NYSE: ITG) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.