August 13, 2018
A federal judge in New York has dismissed a class action alleging foreign exchange trading company FXCM Inc. defrauded investors, saying the court found no evidence that the company made any deliberate misrepresentations to stockholders in failing to foresee the euro's value falling sharply against the Swiss franc.
November 01, 2017
Lawyers for a proposed class that accuses foreign exchange trading company FXCM Inc. of defrauding investors urged a New York federal judge not to dismiss the case, saying evidence from a regulatory probe makes it clear that FXCM was no "innocent victim" of a nasty surprise.
August 19, 2016
A New York federal judge on Thursday dismissed a shareholder suit claiming foreign exchange dealer FXCM Inc. lied about its business model ahead of the 2015 Swiss franc "flash crash," ruling there was no evidence the dealer could have known about a sudden policy decision that took the market by surprise.
August 08, 2016
A foreign exchange dealer and a class of investors claiming the dealer lied about the risks of its model ahead of the 2015 Swiss franc "flash crash" clashed Monday in their responses to a New York federal judge's order, with the trader claiming it employs a relatively safe "agency" model and the investors claiming its model was riskier than it let on.
February 26, 2016
Foreign exchange dealer FXCM Inc. has asked a New York federal judge to toss a putative securities fraud class action alleging it misled investors about the risk of a dramatic change to the Swiss franc, saying it was as blindsided by a January 2015 “flash crash” as anyone.
November 13, 2015
A New York federal judge on Thursday appointed Scott & Scott LLP as lead counsel in a putative securities fraud class action accusing New York-based retail forex dealer FXCM Inc. of making false claims about its financial performance that came to light when it lost millions after a sudden change in the Swiss franc.