The Shareholders Foundation announces that an investor, who purchased shares of FXCM Inc (NASDAQ:FXCM), filed a lawsuit over alleged violations of Federal Securities Laws by FXCM Inc.
Investors who purchased shares of FXCM Inc (NASDAQ:FXCM) have certain options and for certain investors are short and strict deadlines running. Deadline: April 10, 2017. NASDAQ:FXCM investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The plaintiff alleges on behalf of purchasers of FXCM Inc (NASDAQ:FXCM) common shares between March 15, 2012 and February 6, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 15, 2012 and February 6, 2017, the Defendants made false and/or misleading statements and/or failed to disclose that between 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, that FXCM’s U.S. subsidiary made false statements to the National Futures Association about its relationship with the market maker, and that 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.
FXCM Inc reported that its annual Total Revenue rose from $351.05 million in 2014 to $402.28 million in 2015 and that its Net Income of $17.15 million declined to a Net Loss of $553.93 million in 2015.
On February 6, 2017, the Commodities Futures Trading Commission (“CFTC”) found that FXCM Inc was engaged in false and misleading solicitations of its retail foreign exchange customers. According to the CFTC, FXCM Inc covered up both its relationship with the Company’s most crucial market maker, and that the fact that the Company’s “No Dealing Desk” platform had conflicts of interest with FXCM’s customers.
Shares of FXCM Inc (NASDAQ:FXCM) declined from $7.25 per share on February 2, 2017 to as low as $2.75 per share on February 8, 2017.
On February 17, 2017, NASDAQ:FXCM shares closed at $2.90 per share.
Those who purchased NASDAQ:FXCM shares have certain options and should contact the Shareholders Foundation.
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