Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to firstname.lastname@example.org.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at email@example.com.
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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 U.S. 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.