Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, July 11, 2023 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Virtu Financial, Inc. VIRT investors that a lawsuit filed on behalf of investors that purchased Virtu securities between March 1, 2019 and April 28, 2023, both dates inclusive (the “Class Period”).
Investors are encouraged to contact an attorney Lesley F. Portnoyby phone 844-767-8529 or e-mail: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a free case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Virtu Financial is a financial services company that offers various products and platforms related to execution, liquidity sourcing, analytics, and workflow technology. The company has implemented information access barriers to prevent the exchange of confidential information and conflicts of interest.
However, a class action lawsuit has been filed against Virtu Financial, alleging that the company made false or misleading statements and failed to disclose certain deficiencies. The lawsuit claims that Virtu Financial had inadequate policies and procedures regarding its information access barriers, overstating its operational efficiency and capacity to prevent the exchange of confidential information. These deficiencies increased the likelihood of regulatory scrutiny.
On February 17, 2023, Virtu Financial revealed that it was responding to information requests from the US Securities and Exchange Commission (SEC) regarding an investigation into its information access barriers. This announcement led to a decline in Virtu Financial’s stock price.
Then, on April 28, 2023, Virtu Financial reiterated its response to the SEC’s information requests and stated that in the absence of a settlement, it might receive a Wells Notice from the SEC. The proposed action would allege violations of federal securities laws related to Virtu Financial’s information barrier policies and procedures during a specified time period. This news caused the stock price of Virtu Financial to decline by more than 5%, further harming investors.
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The Portnoy Law Firm represents investors in pursuing claims against causes caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar