Interactive Brokers Group, Inc. - Securities Class Action

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Copyright (c) 2001
Stanford Law School

Interactive Brokers Group, Inc. Summary: The original class action commenced on behalf of a class of all persons who purchased the common stock of Interactive Brokers Group, Inc. in the Company' s initial public offering ("IPO"), which commenced on May 4, 2007, through July 5, 2007. The claims asserted arise under Sections 11 and 12(a)(2) of the Securities Act of 1933, 15 U.S.C. 00A7,Sect. 00A7,Sect. 77k and 77l(a)(2), and have been asserted against Interactive Brokers. Specifically, the complaint alleges that the Defendant made materially misleading statements and otherwise failed to disclose that it had incurred material trading losses at the time of the IPO and that its proprietary pricing model was unable to prevent such material trading losses. The subsequent disclosure of these facts after the close of trading on July 5, 2007 resulted in the price of the Company's common stock declining, causing Plaintiff and the other members of the Class to suffer damages.

On March 14, 2007, the Court granted the motion to name Seow Lin as Lead Plaintiff and appointed Abraham Fruchter & Twersky LLP as Lead Counsel. The Amended Class Action Complaint was filed on March 24, 2008. The defendants responded by filing a motion to dismiss the Amended Complaint on April 25, 2008.

On August 22, 2008, U.S. District Court Judge Colleen McMahon issued the Decision and Order granting in part and denying in part the defendant’s motion to dismiss. On November 21, 2008, the plaintiffs filed a Stipulation of Voluntary Dismissal. The case is dismissed with prejudice.

INDUSTRY CLASSIFICATION:
SIC Code: 6211
Sector: Financial
Industry: Investment Services

COMPANY/ISSUER NAME:	Interactive Brokers Group, Inc.
COMPANY/ISSUER TICKER:	IBKR
COMPANY WEBSITE:	http://www.interactivebrokers.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Zeeshan Nayab, et al. v. Interactive Brokers Group, Inc., et al.

COURT: S.D. New York	DOCKET NUMBER: 08-CV-00242
JUDGE NAME: Hon. Lloyd F. McMahon
DATE FILED: 01/11/2008	SOURCE: Notice of Filing
CLASS PERIOD START: 05/04/2007	CLASS PERIOD END: 07/05/2007
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Abraham, Fruchter & Twersky (New York, One Pennsylvania Plaza) One Pennsylvania Plaza, Suite 1910, New York, NY, 10119 (voice) 212.279.5050, (fax) 212.279.3655, JFruchter@FruchterTwersky.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint for Violations of Federal Securities Laws - Jury Trial Demanded
Type: Complaint		Date on the document: 01/11/2008
Notice of Motion
Type: Memorandum		Date on the document: 03/14/2008

REFERENCE COMPLAINT

Seow Lin, et al. v. Interactive Brokers Group, Inc., et al.

COURT: S.D. New York	DOCKET NUMBER: 08-CV-00242
JUDGE NAME: Hon. Colleen McMahon
DATE FILED: 03/24/2008	SOURCE: Docket
CLASS PERIOD START: 05/04/2007	CLASS PERIOD END: 07/05/2007
TYPE OF COMPLAINT: Consolidated Complaint
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Abraham, Fruchter & Twersky (New York, One Pennsylvania Plaza) One Pennsylvania Plaza, Suite 1910, New York, NY, 10119 (voice) 212.279.5050, (fax) 212.279.3655, JFruchter@FruchterTwersky.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
Amended Class Action Complaint For Violations Of Federal Securities Laws
Type: Complaint		Date on the document: 03/24/2008
Order Denying Motion For Undertaking And Directing Amendment Of The Caption
Type: Order		Date on the document: 04/03/2008
Notice of Motion
Type: Motion		Date on the document: 04/25/2008
Stipulation of Voluntary Dismissal
Type: Notice		Date on the document: 11/21/2008
US District Court Civil Docket
Type: Docket		Date on the document: 11/24/2008

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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