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Interactive Brokers Group Inc (NASDAQ: IBKR) Investor Securities Class Action 01/11/2008

  • If you purchased shares of Interactive Brokers Group Inc (NASDAQ: IBKR), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Interactive Brokers Group
Security
NASDAQ: IBKR

Case Name
Interactive Brokers Group Shareholder Class Action Lawsuit 01/11/2008
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

November 21, 2008 - The parties filed a stipulation of voluntary dismissal with prejudice.
August 22, 2008 - The court granted in part and denied in part defendants' motion to dismiss.

April 25, 2008 - Defendants filed a motion to dismiss.

March 24, 2008 - The lead plaintiff filed an amended complaint.

March 14, 2008 - The lead plaintiff and lead counsel were appointed.

March 11, 2008 - Lead plaintiff motion was filed.

January 11, 2008 - An investor in shares of Interactive Brokers Group Inc (NASDAQ: IBKR) filed a lawsuit in the U.S. District Court for the Southern District of New York against Interactive Brokers Group Inc over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff charges Interactive Brokers Group Inc and certain of its officers and directors with violations of the Securities Act of 1933. The complaint alleges that between May 4, 2007 and July 5, 2007 defendant issued materially false and misleading statements regarding Interactive Brokers Group Inc's business and financial results. The claims asserted arise under Sections 11 and 12(a)(2) of the Securities Act of 1933, 15 U.S.C. 00A7, Section 00A7, Section 77k and 77l (a)(2), and have been asserted against Interactive Brokers Group Inc.

Specifically, the complaint alleges that Interactive Brokers Group Inc 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 Interactive Brokers Group Inc’s common stock declining, causing the plaintiff and other members of the class to suffer damages.