NEW YORK, Aug. 07, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California against Investment Technology Group, Inc. (“Investment Technology” or the “Company”) (NYSE:ITG) and certain of its officers. The class action is on behalf of a class consisting of all persons or entities who purchased Investment Technology securities between February 28, 2011 and July 29, 2015, inclusive (the “Class Period”). Shareholders are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements to investors and/or failed to disclose that: (1) Information Technology’s AlterNet Securities, Inc. subsidiary operated a proprietary trading operation in 2010 through mid-2011 inside of Information Technology’s POSIT dark pool, a private stock trading platform, against some of its broker clients; (2) the proprietary trading operation used information from customer stock orders within Information Technology’s dark pool, as well as information from Information Technology’s clients that used the firm’s algorithms to execute trades on other trading platforms, which should not have been available; and (3) as a result of the foregoing, the Company’s public statements were materially false and misleading at all relevant times.
On July 29, 2015, after the close of trading, the brokerage firm announced that it is in talks to settle allegations that its equity dark pool ran afoul of U.S. regulations and may pay a record penalty of $20.3 million to the Securities and Exchange Commission. “In hindsight, I recognize that our client disclosures about the pilot were insufficient,” Bob Gasser, chief executive of Information Technology said in an email to clients on July 29, 2015.
If you purchased Investment Technology securities during the period between February 28, 2011 and July 29, 2015, inclusive, you may, no later than October 5, 2015, request that the Court appoint you lead plaintiff of the proposed class.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Investment Technology Group Investigation.”
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org Tel: (800) 575-0735 or (212) 545-4774
Source:Wolf Haldenstein Adler Freeman & Herz LLP