The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Central District of California
on behalf of purchasers of Investment Technology Group, Inc. (“ITG” or
the “Company”) (NYSE: ITG) securities during the period between February
28, 2011 and July 29, 2015, inclusive (the “Class Period”). Investors
who wish to become proactively involved in the litigation have until
October 5, 2015 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in ITG securities purchased
on or after February 28, 2011 and held through the revelation of
negative information during and/or at the end of the Class Period, as
described below, and would like to learn more about this lawsuit and
your ability to participate as a lead plaintiff, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616. No class has yet been certified in
the above action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must
apply to be appointed lead plaintiff and be selected by the Court. The
lead plaintiff will direct the litigation and participate in important
decisions including whether to accept a settlement for the Class in the
action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in Company securities during
the Class Period. Brower Piven also encourages anyone with
information regarding the Company’s conduct during the period in
question to contact the firm, including whistleblowers, former
employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that ITG’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 and that the proprietary trading operation used
information from customer stock orders within ITG’s dark pool, as well
as information from ITG clients that used the firm’s algorithms to
execute trades on other trading platforms, which should not have been
available. According to the complaint, following the Company’s July 29,
2015 announcement that it was in talks to settle allegations that its
equity dark pool ran afoul of U.S. regulations and may pay a record
penalty of $20.3 million to the Securities and Exchange Commission, the
value of ITG’s shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
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