SOURCE: Saxena White P.A.
BOCA RATON, FL--(Marketwire - Oct 26, 2012) - Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the District of New Jersey against Knight Capital Group, Inc. ("Knight" or the "Company") (NYSE: KCG) on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period from January 19, 2012 through August 1, 2012 (the "Class Period"). The complaint brings forth claims for violations of the Securities Exchange Act of 1934.
Knight is a global financial services firm that provides access to the capital markets across multiple asset classes to a broad network of clients, including buy- and sell-side firms and corporations.
The complaint alleges that, throughout the Class Period, the Company and certain of its executive officers ("Defendants") made materially false and misleading statements regarding the Company's business, operational and accounting practices. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (i) that Knight lacked the deep liquidity it claimed to have and its capital position was not what the Company purported it to be; (ii) that Knight's trading technology and infrastructure were in fact not sophisticated and were not appropriately checked or tested to ensure they were working properly (as required by all high frequency broker-dealers with access to the markets); (iii) that the Company lacked adequate internal and financial controls; and (iv) that, as a result of the above, Knight's financial statements were materially false and misleading at all relevant times, and positive statements about the Company's business prospects lacked a reasonable basis.
You may obtain a copy of the complaint and join the class action at www.saxenawhite.com. If you purchased Knight common stock between January 19, 2012 and August 1, 2012, inclusive, you may contact Joe White or Marc Grobler at Saxena White P.A. to discuss your rights and interests.
If you purchased Knight common stock during the Class Period of January 19, 2012 through August 1, 2012, inclusive, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court no later than November 5, 2012. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.
Saxena White P.A., located in Boca Raton, specializes in prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.