NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. is investigating potential claims against FXCM Inc. (NASDAQ:FXCM) concerning possible violations of the federal securities laws.
On February 6, 2017, the Commodities Futures Trading Commission (“CFTC”) found that FXCM was engaged in false and misleading solicitations of its retail foreign exchange customers by taking positions opposite to them. As a result, the CFTC banned FXCM from operating in the United States and imposed a $7 million fine on the Company. The CFTC revealed that from 2009 through at least 2014, FXCM “engaged in false and misleading solicitations of FXCM’s retail foreign exchange (forex) customers by concealing its relationship with its most important market maker and by misrepresenting that its ‘No Dealing Desk’ platform had no conflicts of interest with its customers.”
Following this news, FXCM shares declined $3.40 per share, or 50%, on February 7, 2017, to close at $3.45.
If you purchased or otherwise acquired FXCM securities and suffered a loss, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into FXCM Inc., please go to www.bespc.com/FXCM. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.