Virtu Financial Inc. misrepresented its safeguards for client trading information, an investor says in a new proposed class action that follows on the heels of an SEC suit with similar allegations.
Virtu’s stock price dropped in increments as the company announced Securities and Exchange Commission enforcement steps over the course of about seven months, according to the investor, a Birmingham, Ala., pension fund. The fund filed its suit Tuesday in the US District Court for the Eastern District of New York.
The steps included requests from the agency, the possibility of a suit, a failure to settle, and filed civil ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.