NEW YORK, July 30, 2015 /PRNewswire/ -- Tripp Levy PLLC, a
leading national securities law firm, announces that it is
investigating potential securities claims on behalf of investors of
Investment Technology Group Inc. (NYSE: ITG) resulting from
allegations that Investment Technology Group may have issued
materially misleading business information to the investing
public.
On July 29, 2015. Investment
Technology Group ("ITG") said it set aside $20.3 million for a probable settlement with the
U.S. Securities and Exchange Commission ("SEC") over rule
violations related to its private stock trading venue. The
settlement would be a record amount handed out by the SEC related
to the operation of a private stock trading platform, or "dark
pool." ITG said the SEC was investigating a test program one
of the firm's subsidiaries ran from 2010 until mid-2011 that
involved proprietary trading inside of ITG's POSIT dark pool
against some of its broker clients that the firm did not
disclose.
ITG disclosed the information in an earnings pre-announcement
after the market closed on July 29,
2015 and also in letter to its clients. In the letter,
ITG Chief Executive Officer Bob
Grasser said that "In hindsight, I recognize that our client
disclosures about the pilot were insufficient…. I take full
responsibility for these historical mistakes."
In addition, on July 23, 2015,
Kevin J.P. O'Hara resigned from
ITG's Board of Directors effective immediately.
As a result of this announcement, ITG's stock has fallen
considerably; falling $5.65 or 23.54%
during intraday trading to trade at $18.35 on July 30,
2015.
If you purchased shares of ITG and have suffered a loss from
your investment in ITG common stock and would like to learn more
about this investigation, including your ability to potentially
recover your losses, please contact us either by email at
contact@tripplevy.com or by telephone at (800) 511-7037 or visit
our website at www.tripplevy.com.
Tripp Levy PLLC is a leading national securities and shareholder
rights law firm representing both individual and institutional
shareholders and, along with its affiliate, have recovered billions
of dollars for shareholders. Tripp Levy PLLC is affiliated with
Milberg LLP. The National Law Journal has named Milberg one
of the "50 Elite Trial Lawyer Firms" and one of the "50 Leading
Plaintiff Firms in America."
Attorney advertising. Prior results do not indicate a
similar outcome
Tripp Levy PLLC
New York, New York
Toll free: 800-511-7037
International: 602-241-2841
Email: contact@tripplevy.com
www.tripplevy.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/itg-alert-national-securities-law-firm-announces-investigation-of-potential-securities-claims-against-investment-technology-group-and-encourages-investors-with-losses-to-contact-law-firm-for-more-information-300121335.html
SOURCE Tripp Levy PLLC