Lawsuit Overview
Settlement Overview
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This settlement relates to Knight Capital Group Inc securities list below:
i. Knight Class A Common Stock; and
ii. Knight 3.50% Cash Convertible Senior Subordinated Notes due March 15, 2015
July 6, 2015 - The court approved the settlement, the plan of allocation, the motion for attorneys’ fees and expenses, and dismissing the action with prejudice.
March 2, 2015 - The court preliminarily approved the settlement.
February 10, 2015 - Parties filed a stipulation of settlement.
February 18, 2014 - The defendants filed a motion to dismiss.
December 20, 2013 - The lead plaintiff filed an amended complaint.
December 2, 2013 - The court administratively closed the motion to dismiss and granted the lead plaintiff leave to file an amended complaint.
May 13, 2013 - The defendants filed a motion to dismiss.
March 14, 2013 - The lead plaintiff filed an amended complaint.
November 7, 2012 - Another lead plaintiff motion was filed.
November 5, 2012 - A lead plaintiff motion was filed.
October 26, 2012 - An investor in shares of Knight Capital Group Inc (NYSE: KCG) filed a lawsuit in the U.S. District Court for the District of New Jersey against Knight Capital Group Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between January 19, 2012 and August 1, 2012.
The complaint alleges that, between January 19, 2012 and August 1, 2012, Knight Capital Group Inc and certain of its executive officers made materially false
and misleading statements regarding Knight Capital Group Inc's business, operational and accounting practices. Specifically, Knight Capital Group Inc made false and/or misleading statements and/or failed to disclose: (i) that Knight Capital Group Inc lacked the deep liquidity it claimed to have and its capital position was not
what Knight Capital Group Inc purported it to be; (ii) that Knight Capital Group Inc'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 Capital Group Inc's financial statements were materially false and misleading at all relevant times, and positive statements about Knight Capital Group Inc's business prospects lacked a reasonable basis.
Knight Capital Group Inc 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.