LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Global Brokerage, Inc. (Nasdaq: GLBR), formerly known as FXCM Inc. (“FXCM” or the “Company”) (Nasdaq: FXCM) concerning possible violations of federal securities laws between March 15, 2012 and February 6, 2017 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the April 10, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The complaint alleges that during the Class Period, the Company made false and/or misleading statements and/or failed to disclose that: from 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; that the Company’s U.S. subsidiary made false statements to the National Futures Association about its relationship with the market maker; and that as a result of the above, FXCM’s statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When this news reached the public, the Company’s stock price fell, causing investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
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