HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Virtu Financial (VIRT) Investors with Substantial Losses to Contact Firm’s Attorneys, Securities Fraud Class Action Pending

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SAN FRANCISCO, June 12, 2023 (GLOBE NEWSWIRE) — Hagens Berman urges Virtu Financial, Inc. (NASDAQ: VIRT) investors who suffered substantial losses submit your losses now.

Class Period: Mar. 1, 2019 – Apr. 28, 2023
Lead Plaintiff Deadline: July 18, 2023
Visit: www.hbsslaw.com/investor-fraud/VIRT
Contact An Attorney Now:  [email protected]
  844-916-0895

Virtu Financial, Inc. (VIRT) Securities Fraud Class Action:

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The complaint alleges Defendants made misleading statements and failed to disclose that: (1) Virtu maintained deficient policies and procedures with respect to its information access barriers; (2) accordingly, Virtu overstated its operational and technical efficacy and its capacity to block the exchange of confidential information between departments or individuals within the company; and (3) these deficiencies increased the likelihood that Virtu would be subject to enhanced regulatory scrutiny.

Investors began to learn the truth on Feb. 17, 2023, when Virtu revealed that it “has been responding to requests for information from the U.S. Securities and Exchange Commission in connection with an investigation of the Company’s information access barriers” and “[t]he Company is cooperating with this civil investigation.”

Then, on Apr. 28, 2023, Virtu further revealed that “it has engaged in settlement discussions” with the SEC, “the Company currently believes it may receive a Wells Notice from the SEC,” and that the Notice “would be expected to allege violations of federal securities laws with respect to the Company’s information barriers policies and procedures […] and related statements made by the Company[.]”

Finally, on May 1, 2023, the Wall Street Journal reported that the SEC’s investigation involves “a business executing orders for institutional investors that Virtu took over as part of its 2017 acquisition of KGC Holdings” and “[r]egulations and Virtu’s own policies require this ‘agency execution’ business to be kept separate from Virtu’s proprietary-trading business.”

These revelations have driven the price of Virtu shares sharply lower.

“We’re focused on investors’ losses and proving Virtu misled investors about the wall between its agency execution and proprietary trading businesses,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Virtu and have substantial losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Virtu should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contact:
Reed Kathrein, 844-916-0895

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