Scott+Scott, Attorneys at Law, LLP Files Securities Class

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
Scott+Scott, Attorneys at Law, LLP Files Securities Class Action Against FXCM Inc.

NEW YORK, May 8, 2015 (GLOBE NEWSWIRE) -- Scott+Scott, Attorneys at Law, LLP filed a class action complaint in the United States District Court for the Southern District of New York on behalf of all purchasers of FXCM Inc.’s (“FXCM” or the “Company”) common stock between June 11, 2013 and January 20, 2015, inclusive.  The action seeks remedies under the Securities Exchange Act of 1934.

FXCM provides online foreign exchange (“FX”) trading and related services to retail and institutional customers worldwide.  The Company acts as an agent between retail customers and a collection of global banks and financial institutions by making foreign currency markets for customers trading in foreign exchange spot markets.  FXCM provides its customers access to over-the-counter FX markets through its proprietary technology platform.

The complaint alleges that the Company issued materially false and/or misleading statements regarding the Company’s business operations and the strength of its financial prospects, while concealing significant weaknesses concerning its core business.  According to the complaint, the truth was that: (1) the Company’s agency model did not insulate the Company from financial risk from its heavily leveraged clients; (2) the Company did not disclose the true potential risk posed by market volatility; (3) the Company did not maintain sufficient regulatory capital reserves; and (4) the Defendants’ positive statements about the Company’s business, operations, and growth lacked a reasonable basis.

You can view a copy of the complaint here: Case Summary and Complaint

If you purchased FXCM stock during this time period and wish to serve as a lead plaintiff in the action, you must move the Court no later than July 7, 2015.  Any member of the class may move the Court to serve as lead plaintiff through counsel of its choice or may choose to do nothing and remain an absent class member.  If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott (scottlaw@scott-scott.com, (800) 404-7770, (860) 537-5537) or visit the Scott+Scott website for more information: http://www.scott-scott.com.

There is no cost or fee to you.

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States.  The firm represents pension funds, foundations, individuals, and other entities worldwide.

Michael Burnett Scott+Scott, Attorneys at Law, LLP (800) 404-7770 (860) 537-5537 scottlaw@scott-scott.com, or mburnett@scott-scott.com

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Microsoft's Cloud Misstep: Recovery Plans in Focus

Updated Category News Views 104

Microsoft's Stumble Puts CIOs on Alert Thursday's Microsoft 365 outage, a wrench in the works for every firm that ties its daily operations to these cloud services, has brought some harsh truths to the table. On November 12, outages hit users hard, preventing access to Exchange Online mailboxes and sending ripples through Teams, SharePoint, Copilot, and Defender. You...

Continue Reading
Nonprofit and Partners Gift Homes to Veterans

Updated Category News Views 87

A Heartfelt Gesture on Veterans Day Now this is the kind of story that gets you right in the gut. On November 9, two veterans, who were likely walking into a golf club thinking it was just another evening, were handed the keys to a future they might have only dreamt of: a mortgage-free home. Operation Finally Home, backed by the big names like Lennar and the patriotic...

Continue Reading
Purdue's xGTT: Pioneering a New Trust Standard in Tech

Updated Category News Views 150

A Bold New Benchmark in Tech Trust You've got to hand it to the folks at Purdue's Krach Institute—they're not dancing around the fringes but diving straight into the thick of it with their Global Trusted Tech Standard, or xGTT. This isn't just another checkbox for compliance nerds. The xGTT is all about building trust in technology that's woven with democratic values...

Continue Reading
CVRx Faces Legal Storm: Investors Grapple with Fallout

Updated Category News Views 150

CVRx in the Crosshairs: Legal and Operational Woes There's a storm brewing over at CVRx, Inc. (NASDAQ: CVRX), and it's pulling investors down a hell of a financial rabbit hole. You might think you're in the clear with a company like CVRx that boasts approved devices, but think again. Recent revelations have shown that even those with FDA stamps aren't immune to the...

Continue Reading
MV Transportation Celebrates Leadership Nomination for FTA

Updated Category News Views 108

MV Throws Support Behind Aesch for FTA Role In this wild world where public transit feels the heat from financial burdens, MV Transportation's recent move to support Mark Aesch for the Federal Transit Administration's top spot isn’t just a nod of approval—it's a full-blown trumpet blast. They're not just doling out a basic endorsement here; they're practically waving...

Continue Reading
Interactive Donor Recognition: Beyond GivingTuesday

Updated Category News Views 98

Crafting Stories That Endure You ever notice how some things just fade away after the holidays? Schools don't want their donor stories to go out like last year's tinsel. Rocket Alumni Solutions strikes right at the core of this concern. They recommend crafting donor recognition that lasts beyond GivingTuesday, by anchoring the story in the school's community. This isn't...

Continue Reading
Samuel Oschin Center Opens, Promising Wonder

Updated Category News Views 162

A Grand New Space for Space Well, here's a sight for sore eyes—California Science Center's Samuel Oschin Air and Space Center just swung its doors open wide, and boy, it's a beast of a place. Housing a spectacle like the Space Shuttle Endeavour in a vertical launch position, it's as if they've reached up and snagged a piece of the sky itself for their exhibits. They're...

Continue Reading
PangeAI and Sky Blue Transform Data Center Decisions

Updated Category News Views 117

Just when you thought the incessant trials of picking a prime data center site couldn’t get any more grueling or expensive, enter PangeAI and its brand-new ally, Sky Blue Impact. These tech firms have partnered up to speed up what has traditionally been a sluggish, pricey process. Here’s the deal: PangeAI’s geospatial AI platform lets Sky Blue dodge the usually...

Continue Reading
Backdoor Reference Checks: A Hiring Minefield?

Updated Category News Views 157

What's Really Happening with Job References? Every job seeker has been there, right? You're all set, resume polished to a shine, references lined up like a choir ready to sing your praises, and then bam—you hear that employers are contacting folks you never listed. A new report from Zety highlights this eyebrow-raising trend, and it's got us all questioning the value...

Continue Reading
Optikos Secures CMMC Level 2, Eyeing Defense Market

Updated Category News Views 116

Optikos Levels Up with CMMC Certification In a world where cybersecurity threats are lurking around every corner, Optikos has just joined the rarefied ranks of the top 1% of U.S. defense suppliers by grabbing the CMMC Level 2 certification. Let me tell you, this isn't just some shiny badge for show; it's a gateway to big defense contracts. Crunching the Numbers Of the...

Continue Reading

Top 5 Most Recently Viewed Articles

IHS Holding's Deal: Fair Price or Insider Play?

Updated Category News Views 170

IHS Holding (NYSE: IHS) just got slapped with an investigation from Ademi LLP over possible breaches of fiduciary duty in their recent $6.2 billion transaction with MTN Group Limited. Let’s break this down—traders are already fuming about what’s cooking under the surface. Insider Gains: Who Wins? The crux here is that shareholders will pocket a measly $8.50 per...

Continue Reading
PLAY Airlines Achieves Record Load Factor and Revenue Growth

Updated Category News Views 248

PLAY Airlines Reports Record-Breaking Load Factor for November PLAY Airlines has announced that it carried an impressive 99,393 passengers in the month of November, showcasing its operational efficiency and strategic adaptations. Although this is a decrease from the 107,236 passengers flown in the same month in the previous year, this is largely attributed to a 17%...

Continue Reading
Tempus Collaborates with Northwestern Medicine to Enhance AI Use in Care

Updated Category News Views 122

Tempus Teams Up with Northwestern Medicine to Transform Healthcare Tempus, a frontrunner in the realm of artificial intelligence and precision medicine, has announced a significant collaboration with Northwestern Medicine, noted for being a leading integrated academic health system. This partnership is tailored to investigate the practical applications of artificial...

Continue Reading
Investor Insights: May's Most Influential Announcements

Updated Category News Views 28

The Sky's the Limit with United's Spirit Chase Kicking off May with a twist, United Airlines threw out a bone to Spirit Airline's distressed travelers. For those whose flights were axed, United dangled capped-price tickets as a lifeline. Maybe it's about garnering goodwill, maybe it's swiping market slice—either way, United's move isn't just about customer care....

Continue Reading
Fountainful Partners with SFSG for Timeless Bench Installation

Updated Category News Views 179

Fountainful Partners with Sculpture Garden for Bench Installation Fountainful is thrilled to announce its collaboration with the Saint Francis Sculpture Garden (SFSG) on a long-term bench installation project. When discussions began about replacing outdated wooden benches, it sparked excitement within Fountainful. Donna Shatter, a managing partner of Fountainful,...

Continue Reading