An investigation for investors in NYSE:ITG shares was announced over potential breaches of fiduciary duties by certain Investment Technology Group directors.
Investors who purchased shares of Investment Technology Group (NYSE:ITG) and currently hold any of those NYSE:ITG shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Investment Technology directors breached their fiduciary duties and caused damage to the company and its shareholders.
On July 29, 2015, Investment Technology Group announced that it negotiated a potential settlement with Securities and Exchange Commission (“SEC”) related to how it ran its private stock trading venue or “dark pool.” Based on the terms of the potential settlement, Investment Technology Group would pay an aggregate amount of $20.3 million, which represents a civil penalty of $18 million, disgorgement of approximately $2.1 million in trading revenues and prejudgment interest of approximately $250,000.
On August 5, 2015 a lawsuit was filed against Investment Technology Group over alleged securities laws violations. The plaintiff claimed that the defendants issued allegedly materially false and misleading statements to investors and/or failed to disclose that Investment Technology Group’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, that the proprietary trading operation used information from customer stock orders within ITG’s dark pool, as well as information from Investment Technology Group clients that used the firm’s algorithms to execute trades on other trading platforms, which should not have been available, and that as a result of the foregoing, Investment Technology Group’s public statements were materially false and misleading at all relevant times.
Those who purchased NYSE:ITG shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego