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Knight Capital Group, Inc KCG Securities Lawsuit
|Company:||Knight Capital Group, Inc|
|Class Period:||Feb-29-12 to Aug-1-12|
|Lead Plaintiff Deadline:||Nov-3-12|
|Court:||Western District of Tennessee|
The Complaint alleges that when trading opened on the NYSE on Wednesday, August 1, 2012, Knight Capital was utilizing newly installed trading software that contained a faulty algorithm, or algorithms that did not properly interface with Knight's existing trading network.
The faulty software caused Knight Capital to acquire a large volume of stock shares at unfavorable prices. At some point on August 1, 2012, Knight Capital held nearly $7,000,000,000 worth of stocks as a result of the faulty trading algorithm or algorithms. Knight capital sold shares throughout the day and was left with a position of $4,600,000,000 by the close of trading. As a result of these faulty algorithms, Plaintiff and class members have suffered losses.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
Knight Capital Group, Inc KCG Securities Fraud Legal HelpIf you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Knight Capital Group, Inc securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.
Published on Sep-4-12
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