The Shareholders Foundation announces that an investor in shares of FXCM Inc (NYSE:FXCM) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by FXCM in connection with certain allegedly false and misleading statements made between June 11, 2013 between January 20, 2015.
Investors who purchase shares of FXCM Inc (NYSE:FXCM) have certain options and for certain investors are short and strict deadlines running. Deadline: July 7, 2015. NYSE:FXCM investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of FXCM Inc (NYSE:FXCM) common shares between June 11, 2013 between January 20, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 11, 2013 between January 20, 2015 defendants made false and/or misleading statements that FXCM’s agency model did not insulate FXCM Inc from financial risk from its heavily leveraged clients, that FXCM Inc did not disclose the true potential risk posed by market volatility, that FXCM Inc did not maintain sufficient regulatory capital reserves, and that the Defendants’ positive statements about the Company’s business, operations, and growth lacked a reasonable basis.
On Jan. 15, 2015, FXCM Inc (NYSE:FXCM) announced due to unprecedented volatility in EUR/CHF pair after the Swiss National Bank announcement in the morning of January 15, 2015, that clients experienced significant losses, generated negative equity balances owed to FXCM inc of approximately $225 million and that as a result of these debit balances, FXCM Inc may be in breach of some regulatory capital requirements.
On January 16, 2015, Leucadia National Corporation (NYSE: LUK) and FXCM (NYSE: FXCM) announced that Leucadia would be providing $300 million in cash to FXCM and its subsidiaries (collectively “FXCM”) that will permit FXCM to meet its regulatory-capital requirements and continue normal operations after January 15th’s loss of $225 million due to the unprecedented actions of the Swiss National Bank.
On Jan. 19, 2015, (FXCM Inc (NYSE:FXCM) announced further details on the agreement reached with Leucadia National Corporation (“Leucadia”) that permitted FXCM to meet its regulatory capital requirements and continue normal operations after significant losses were incurred due to unprecedented actions by the Swiss National Bank. Shares of FXCM Inc (NYSE:FXCM) declined from $17.18 per share on January 8, 2015 to as low as $1.28 per share on January 20, 2015.
Those who purchased shares of FXCM Inc (NYSE:FXCM) have certain options and should contact the Shareholders Foundation.
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