Gainey & McKenna Announces a Securities Fraud Class Action Lawsuit Has Been Filed Against Knight Capital Group, Inc. -- KCG
September 05 2012 - 6:00PM
Gainey & McKenna announces that a class action lawsuit has been
filed in the United States District Court for the Western District
of Tennessee, on behalf of investors who purchased the securities
of Knight Capital Group, Inc. ("Knight") (NYSE:KCG) between
February 29, 2012 and August 1, 2012, inclusive (the "Class
Period"). The action is brought against Knight for violations of
the Securities Exchange Act of 1934 and the Tennessee Consumer
Protection Act.
The Complaint alleges that Knight's software contained a faulty
algorithm, or algorithms that did not properly interface with
Knight's existing trading network. This software caused Knight to
acquire a large volume of stock shares at unfavorable
prices. As a result of these faulty algorithms, class members
have suffered losses.
If you wish to serve as lead plaintiff, you must move the Court
no later than November 2, 2012. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation. If you wish to join the litigation, or to
discuss your rights or interests regarding this class action,
please contact Thomas J. McKenna, Esq. of Gainey & McKenna at
(212) 983-1300, or via e-mail at
tjmckenna@gaineyandmckenna.com.
While Gainey & McKenna did not file the Complaint in this
matter, the firm, with offices in New York and New Jersey,
regularly prosecutes cases on behalf of shareholders in state and
federal courts throughout the United States.
CONTACT: Thomas J. McKenna, Esq.
Gainey & McKenna
(212) 983-1300
tjmckenna@gaineyandmckenna.com
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