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Case Status:    SETTLED
On or around 02/21/2019 (Date of order of final judgment)

Filing Date: August 05, 2015

According to the law firm press release, the lawsuit alleges throughout the Class Period defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) ITG’s AlterNet Securities, Inc. subsidiary operated a proprietary trading operation in 2010 through mid-2011 inside of ITG's POSIT dark pool, a private stock trading platform, against some of its broker clients; (2) the proprietary trading operation used information from customer stock orders within ITG's dark pool, as well as information from ITG clients that used the firm's algorithms to execute trades on other trading platforms, which should not have been available; and (3) as a result of the foregoing, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On October 20, 2015, this case was transferred to the Southern District of New York.

This action was consolidated into lead case 1:15-cv-06369-JFK.

Plaintiffs filed a consolidated complaint on December 14, 2015. On May 2, 2016, Defendants filed motions to dismiss the consolidated Complaint. On April 26, 2017, the Court issued an Order granting in part and denying in part Defendants' motions to dismiss.

On June 12, 2018, the Court issued an Order stating that it had been advised that a Settlement in this case has been reached and discontinuing the action without costs to any party, subject to reopening if Settlement is not consummated within 60 days of the date of this Order. On August 6, the parties entered into a Stipulation of Settlement. On October 30, the parties filed an amended Settlement Agreement. The Court granted preliminary approval of the Settlement on November 5. On February 21, 2019, the Court granted final approval of the Settlement and entered Final Judgment.


Sector: Financial
Industry: Investment Services
Headquarters: United States


Ticker Symbol: ITG
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: C.D. California
DOCKET #: 15-CV-05921
JUDGE: Hon. Dale S. Fischer
DATE FILED: 08/05/2015
CLASS PERIOD END: 07/29/2015
  1. The Rosen Law Firm, P.A. (New Los Angeles)
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 15-CV-06369
JUDGE: Hon. Dale S. Fischer
DATE FILED: 12/14/2015
CLASS PERIOD END: 08/03/2015
  1. Motley Rice LLC (Hartford)
    One Corporate Center; 20 Church St.; 17th Floor, Motley Rice LLC (Hartford), CT
    860.882.1681 860.882.1681 ·
No Document Title Filing Date
—Related District Court Filings Data is not available