BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of FXCM, Inc. (“FXCM” or the “Company”) (NYSE:FXCM) concerning possible violations of federal securities laws. The investigation is focused on certain statements issued by FXCM concerning the Company’s operations, finances and future prospects. FXCM is a provider of online foreign exchange trading and related services to retail and institutional customers worldwide. Investors who purchased shares prior to January 19, 2015, are encouraged to contact the firm for more information.
On January 15, 2015, the Company announced that its clients experienced “significant losses” as a result of volatility in the Swiss franc following the Swiss National Bank’s decision to abandon the franc’s cap against the euro, resulting in negative client equity of approximately $225 million and, as a result, FXCM “may have been in breach of some regulatory capital requirements.” Following this news, shares of FXCM declined more than 87%, to a closing price of $1.60 per share on January 20, 2015, on volume of more than 93 million shares traded.
If you purchased FXCM shares prior to January 19, 2015, if you have information or would like to learn more about these claims, 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 www.howardsmithlaw.com.