NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announced today that a class action lawsuit has been filed in the United States District Court for the Southern District of New York against FXCM Inc. (“FXCM” or the “Company”) (NASDAQ:FXCM) on behalf of investors that acquired FXCM securities during the period from March 5, 2012 through February 6, 2017 (the “Class Period”) seeking recovery of damages for alleged violations of the federal securities laws. Pursuant to applicable law, investors have until April 10, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
FXCM provides online foreign exchange (FX) trading and related services.
The lawsuit alleges that on February 6, 2017, the U.S. Commodity Futures Trading Commission announced that it banned the Company from operating in the U.S. after finding that FXCM was taking positions opposite its retail customers, conduct that contravened representations that Defendants made throughout the Class Period concerning FXCM’s business.
In response, shares of the Company fell from $6.85 per share to close at $3.45 per share on February 7, 2017 (a decline of $3.40).
If you acquired FXCM securities during the Class Period and are interested in learning more about this matter and any rights you might have with respect to these claims, please contact Wendy Li at email@example.com, or by telephone at (212) 371-6600. You can also find information about this matter on the firm’s website at www.kmllp.com. Please bear in mind that some of these rights may be time-sensitive.
Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, whistleblower, antitrust and consumer litigation. The firm has specialized in complex litigation, including securities class actions, for several decades, and has been recognized by various courts that have appointed the firm to major positions in consolidated and multi-district litigation. Kirby McInerney’s efforts on behalf of shareholders have resulted in recoveries totaling billions of dollars, and the firm's achievements and quality of service have been chronicled in numerous published decisions. Additional information about the firm or the claims against FXCM Inc. can be found at Kirby McInerney LLP's website: www.kmllp.com.