WAYNE, Pa., Aug. 10, 2015 /PRNewswire/ -- Ryan &
Maniskas, LLP announces that a class action lawsuit has been filed
in the United States District Court for the Central District of
California on behalf of purchasers
of common stock of Investment Technology Group Inc. ("ITG" or the
"Company") (NYSE: ITG) between February 28,
2011 and July 29, 2015,
inclusive (the "Class Period").
ITG shareholders may, no later than October 5, 2015, move the Court for appointment
as a lead plaintiff of the Class. If you purchased shares of
ITG and would like to learn more about these claims or if you wish
to discuss these matters and have any questions concerning this
announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877)
316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/itg.
The Complaint alleges that throughout
the Class Period, defendants made materially
false and misleading statements to investors
and/or failed to disclose that: (1)
Information Technology's AlterNet Securities,
Inc. subsidiary operated a proprietary trading operation
in 2010 through mid-2011 inside of Information
Technology's POSIT dark pool, a
private stock trading platform, against some
of its broker clients; (2) the proprietary trading
operation used information from customer stock orders within
Information Technology's dark pool, as well as information
from Information Technology's clients that used the firm's
algorithms to execute trades on other trading platforms,
which should not have been available; and (3) as a result
of the foregoing, the Company's public statements were
materially false and misleading at all relevant
times.
On July 29, 2015, after the close
of trading, the brokerage firm announced that it is in talks to
settle allegations that its equity dark pool ran afoul of U.S.
regulations and may pay a record penalty of $20.3 million to the Securities and Exchange
Commission. "In hindsight, I recognize that our client
disclosures about the pilot were insufficient," Bob Gasser, chief executive of Information
Technology said in an email to clients on July 29, 2015.
On this news, shares of Information Technology closed at
$18.36, down $5.64, or 23.5%, in trading on July 30, 2015.
If you are a member of the class, you may, no later than
October 5, 2015, request that the
Court appoint you as lead plaintiff of the class. 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.
Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain Ryan &
Maniskas, LLP or other counsel of your choice, to serve as your
counsel in this action.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide. To learn more
about the class action process, please visit:
www.rmclasslaw.com.
CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old
Eagle School Rd., Suite 311
Wayne, PA 19087
484-588-5516
877-316-3218
www.rmclasslaw.com/cases/itg
rmaniskas@rmclasslaw.com
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SOURCE Ryan & Maniskas, LLP