NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, a global investor rights firm, announces that a class action lawsuit has been filed on behalf of purchasers of FXCM Inc., (NYSE: FXCM) securities from June 11, 2013 through January 20, 2015 (the “Class Period”). The lawsuit seeks to recover damages for FXCM investors under the federal securities laws.
To join the FXCM class action, go to the firm’s website at http://www.rosenlegal.com/cases-483.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The lawsuit alleges that during the Class Period defendants made false and/or misleading statements that: (1) FXCM’s agency model of FX trading was extremely low-risk; (2) the volatility in FX markets was uniformly good for FXCM’s business; (3) expressed confidence in the capability of FXCM’s proprietary technological platform; and (4) FXCM maintained sufficient regulatory capital reserves for unforeseen scenarios.
On January 16, 2015, FXCM announced that it been given a loan from Leucadia National Corp. for $300 million for the purpose of staving off the regulatory default and possible bankruptcy facing the company. Trading of the FXCM’s stock was suspended upon this news. Once the stock resumed trading, shares of FXCM fell $11.03 per share to close at $1.60 per share on January 20, 2015.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 7, 2015. If you wish to join the litigation, go to the firm’s website at http://www.rosenlegal.com/cases-483.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
