SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses In Excess Of $100,000 From Investment In Investment Tech...
August 25 2015 - 7:15PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Central
District of California on behalf of purchasers of Investment
Technology Group, Inc. (“ITG” or the “Company”) (NYSE: ITG)
securities during the period between February 28, 2011 and July 29,
2015, inclusive (the “Class Period”). Investors who wish to become
proactively involved in the litigation have until October 5, 2015
to seek appointment as lead plaintiff.
If you have suffered a loss from investment in ITG securities
purchased on or after February 28, 2011 and held through the
revelation of negative information during and/or at the end of the
Class Period, as described below, and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above action.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Company securities during the Class Period. Brower
Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that ITG’s AlterNet
Securities, Inc. subsidiary operated a proprietary trading
operation in 2010 through mid-2011 inside of ITG’s POSIT dark pool,
a private stock trading platform, against some of its broker
clients and that the proprietary trading operation used information
from customer stock orders within ITG’s dark pool, as well as
information from ITG clients that used the firm’s algorithms to
execute trades on other trading platforms, which should not have
been available. According to the complaint, following the Company’s
July 29, 2015 announcement that it was 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, the value of ITG’s shares declined
significantly.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20150825006343/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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