The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of FXCM, Inc. (NASDAQ: FXCM) who purchased shares between March 15, 2012 and February 6, 2017. The action, which was filed in Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that The complaint alleges that throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) from September 4, 2009 through at least 2014, FXCM’s U.S. subsidiary engaged in false and misleading solicitations of its retail foreign exchange customers by concealing its relationship with its most important market maker and by misrepresenting that its “No Dealing Desk” platform had no conflicts of interest with its customers; (2) FXCM’s U.S. subsidiary made false statements to the National Futures Association about its relationship with the market maker; and (3) as a result, Defendants’ statements about FXCM’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until April 10, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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