BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of purchasers of the securities of FXCM Inc. (“FXCM” or the “Company”) (NYSE:FXCM) concerning possible violations of federal securities laws. FXCM is an online provider of foreign exchange – or FX – trading and related services to retail and institutional customers globally.
The investigation focuses on allegations that certain statements issued by the Company regarding FXCM’s business, operations and financial performance were materially false and misleading. On February 16, 2011, FXCM shares fell to their lowest level since the Company’s initial public offering in December 2010. Citi Investment Research analyst William Katz cut his earnings estimates for the Company for 2011 and 2012, and lowered his price target for the stock from $18 to $14. Katz wrote in a research note that the year-to-date data have raised questions about growth assumptions for the Company, and “begin to suggest potentially greater maturity in the business than previously contemplated.”
If you purchased FXCM securities, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or 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 www.howardsmithlaw.com.