NEW YORK, Jan. 14, 2014 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL), a global diversified financial services company, today announced that two purported class action lawsuits have been filed in the United States District Court for the Southern District of New York against the company and certain of its officers and directors. The complaints allege violations of federal securities laws, and claim that the company has issued false and misleading information concerning the company's business and prospects. The actions seek unspecified damages on behalf of persons who purchased the company's shares on specified dates between February, 2010 and December, 2013.
The company stated that it strongly believes the cases are completely without merit. Sean O'Connor, INTL FCStone's chief executive officer, commented, "We believe that our disclosures have been fully compliant with the company's obligations under securities laws and under the rules of NASDAQ. The filing of these actions follow a decline in INTL FCStone's share price and a restatement of prior period results. We intend to vigorously defend against these meritless claims."
About INTL FCStone Inc.:
INTL FCStone Inc. (INTL) provides execution and advisory services in commodities, currencies and international securities. INTL's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 20,000 accounts, representing approximately 11,000 consolidated customers in more than 100 countries through a network of offices in twelve countries around the world.
Further information on INTL is available at www.intlfcstone.com.