Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Virtu Financial, Inc. (NasdaqGS: VIRT).
For several years, the Company has been under intense scrutiny by finance media and regulators regarding its alleged failure to implement effective information access barriers to protect highly sensitive and confidential trading data of its Execution Services customers, allowing virtually any employee unfettered access. In February and April 2023, the Company disclosed that it was responding to requests for information from the U.S. Securities and Exchange Commission (“SEC”) in connection with an investigation of aspects of its information access barriers and “[i]n the absence of a settlement, the Company currently believes it may receive a Wells Notice from the SEC[,]” relating to the same. Then, on September 12, 2023, the SEC announced that it had filed charges against the Company.
The Company and certain of its executives have also been sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether Virtu’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Virtu shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit us at https://www.ksfcounsel.com/cases/nasdaqgs-virt/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit ksfcounsel.com.
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Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
