Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired shares of FXCM Inc. (Nasdaq: FXCM) (“FXCM” or “the Company”) between June 11, 2013 and January 20, 2015, inclusive (the “Class Period”).
FXCM Inc. investors may receive additional information about the case by clicking the link "Join this Class Action" above.
According to the complaint FXCM provides online foreign exchange (FX) trading and related services to retail and institutional customers worldwide. The company acts as an agent between retail customers and a collection of global banks and financial institutions by making foreign currency markets for customers trading in foreign exchange spot markets. FXCM provides its customers access to over-the-counter FX markets through its proprietary technology platform.
The complaint alleges that the company issued materially false and/or misleading statements regarding the company’s business operations and the strength of its financial prospects, while concealing significant weaknesses concerning its core business. According to the complaint, the truth was that: (1) the company's agency model did not insulate the company from financial risk from its heavily leveraged clients; (2) the company did not disclose the true potential risk posed by market volatility; (3) the company did not maintain sufficient regulatory capital reserves; and (4) the defendants positive statements about the company’s business, operations, and growth lacked a reasonable basis.
If you are a member of the class described above, you may no later than July 7, 2015, move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706