Moore Kuehn Urges Virtu Financial Inc. Investors to Seek Legal Counsel
Moore Kuehn, a New York-based plaintiffs’ contingency law firm, is encouraging investors of Virtu Financial Inc. (NASDAQ: VIRT) to reach out for legal assistance. This comes after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Virtu Financial, alleging that the company misled customers about the safeguarding of their confidential information.
According to the SEC, Virtu’s Virtu Americas unit allowed anyone within the company to access sensitive customer information between January 2018 and April 2019 using generic user names and passwords. This raised concerns that Virtu’s proprietary traders, who were supposed to be separated from customer trades, could potentially exploit this information for personal gain, while still accepting trading commissions from the same customers.
The SEC’s lawsuit followed a Wells Notice issued to Virtu Financial in July 2023, indicating that civil charges were likely. The investigation focuses on statements made by the company regarding its business, operations, and prospects. Allegedly, Virtu maintained deficient policies and procedures related to information access barriers, overstating its operational and technological efficacy and its ability to prevent the exchange of confidential information within the company.
Investors who purchased or acquired Virtu Financial securities, regardless of the number of shares, are encouraged to contact Fletcher Moore of Moore Kuehn PLLC via email at firstname.lastname@example.org. Moore Kuehn specializes in shareholder derivative and consumer litigation.
For more information about Moore Kuehn PLLC, visit their website at http://www.moorekuehn.com/. Please note that this press release may be considered Attorney Advertising in some jurisdictions under applicable law and ethical rules.
Moore Kuehn PLLC
Fletcher Moore, Esq.