Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Knight Capital
WAYNE, Pa. -- October 02, 2012
Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/kcg) announces that a class
action lawsuit has been filed in the U.S. District Court for the Western
District of Tennessee on behalf of purchasers of Knight Capital Group, Inc.
(NYSE: KCG) (“Knight Capital” or the “Company”) common stock during the period
from February 29, 2012 and August 1, 2012, (the “Class Period”).
For more information regarding this class action suit, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by
email at email@example.com or visit: www.rmclasslaw.com/cases/kcg
The complaint alleges that Knight Capital and certain of its officers and
directors (“Defendants”) misrepresented and/or failed to disclose that: (1)
“[m]otivated by changes to NYSE Rules taking effect on August 1, 2012, Knight
Capital knowingly introduced unproven electronic trading software packages
into the NYSE that destabilized the global equity markets”; (2) Knight Capital
knew or should have known that its new electronic trading technology had the
potential to engage in large-volume erroneous trading because massive amounts
of trades could be placed in seconds; and (3) as a result, when the technology
was implemented, Knight Capital erroneously acquired a large volume of stock
at unfavorable prices.
On August 1, the price of Knight Capital shares fell from $10.33 to $6.94
after it was reported that the Company had sent an e-mail advising its clients
to route orders elsewhere, explaining that it had “experienced a technology
issue” in its market-making unit “related to the routing of shares of
approximately 150 stocks to the NYSE.” The following day, the Company publicly
confirmed the “technology issue” which it said had resulted in a $440 million
loss. The price of Knight Capital stock dropped from $6.94 to $2.58 on August
If you are a member of the class, you may, no later than November 2, 2012,
request that the Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other class members
in directing the litigation. In order to be appointed lead plaintiff, the
Court must determine that the class member's claim is typical of the claims of
other class members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may together
serve as “lead plaintiff.” Your ability to share in any recovery is not,
however, affected by the decision whether or not to serve as a lead plaintiff.
You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve
as your counsel in this action.
For more information about the case or to participate online, please visit:
www.rmclasslaw.com/cases/kcg or contact Richard A. Maniskas, Esquire toll-free
at (877) 316-3218, or by e-mail at firstname.lastname@example.org. For more
information about class action cases in general or to learn more about Ryan &
Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan &
Maniskas, LLP is devoted to protecting the interests of individual and
institutional investors in shareholder actions in state and federal courts
Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
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