This lawsuit is for investors who acquired the common stock of FXCM, Inc. (NYSE: FXCM) between December 2, 2010 and February 15, 2011.
The lawsuit alleges that the Company and certain of its executives violated federal laws. Specifically, the lawsuit alleges that on the prospectus to the Company's IPO, and also throughout the time period mentioned above, the Company was misleading investors by knowingly materially overstating its potential for future growth.
On February 16, 2011, Citi Investment Research analyst William Katz cut his earnings estimates for the Company for 2011 and 2012, and lowered his price target for the stock from $18 to $14. Katz wrote in a research note that the year-to-date data have raised questions about growth assumptions for the Company, and “begin to suggest potentially greater maturity in the business than previously contemplated.” On this news the Company's share price dropped precipitously on heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired shares of common stock of FXCM, Inc. (NYSE: FXCM) between December 2, 2010 and February 15, 2011 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
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Last Name: *
If Representing an Institution, Name of Institution:
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.