NEW YORK, Jan. 21, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of FXCM, Inc. ("FXCM" or the "Company") (NYSE: FXCM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether FXCM and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On January 16, 2015, FXCM announced that Swiss Franc volatility drove negative client equity of $225 million, and, as a result, FXCM may have been in breach of regulatory requirements. In addition, FXCM systems may have crashed, which also may have led to its inability to close out deteriorating Swiss Franc trades.
On this news, shares of FXCM fell $11.03 per share to $1.60, or more than 87.33%, in intraday trading on January 20, 2015.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP