BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased FXCM, Inc. (“FXCM” or the “Company”) (NASDAQ: FXCM) securities between March 15, 2012 and February 6, 2017, inclusive (the “Class Period”). FXCM investors have until April 10, 2017 to file a lead plaintiff motion.
Investors suffering losses on their FXCM investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
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. According to the CFTC, FXCM covered up both its relationship with the Company’s most crucial market maker, and that the fact that the Company's "No Dealing Desk" platform had conflicts of interest with FXCM's customers.
The complaint filed in this lawsuit alleges that FXCM made materially false and/or misleading statements and/or failed to disclose that: (1) between September 4, 2009 through at least 2014, FXCM’s U.S. subsidiary engaged in false and misleading solicitations of its retail foreign exchange 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; (2) FXCM’s U.S. subsidiary made false statements to the National Futures Association about its relationship with the market maker; and (3) as a result, Defendants’ statements about FXCM’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased shares of FXCM during the Class Period you may move the Court no later than April 10, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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