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Case ID: 2993 | Stocks | 05/26/2004
A class action has been filed against Ameritrade Holdings, Inc. (Nasdaq:AMTD) and Knight Trading Group, Inc. (Nasdaq:NITE), and certain key officers and directors of those companies, on behalf of all persons who became customers of Ameritrade between March 29, 1995, and September 30, 2003. The action alleges that the defendants violated federal securities laws by failing to disclose their true affiliation with one another to Ameritrade customers. The action seeks $4.5 billion in compensatory restitution.
The action charges Ameritrade, Knight and certain key officers and directors with mutiple violations of SEC regulations. Ameritrade allegedly failed to disclose to their customers their true affiliation with Knight, the true level of customer order flow routed to Knight for execution and the true payments for order flow received from Knight. Knight allegedly violated the regulations regarding order handling and display in connection with the orders placed via Ameritrade's customers. Allegedly, the companies also filed false historical data in required SEC filings and reports. The investors allege that approximately 70% of all customers' orders were routed to Knight for execution during an 8 1/2 year period. This resulted in improper order handling and execution of nearly 40,000 trades per day on all securities on all major exchanges. The action alleges that Ameritrade's ownership position of Knight common stock, and its revenues received for payment for order flow and past equity income gains from Roundtable Partners, LLC, obligated Ameritrade to properly disclose all levels of its affiliation with Knight to the public. If you became a customer of Ameritrade between March 29, 1995 and September 30, 2003, and were victim to your orders placed via Ameritrade and Knight not receiving the execution deserved, and sustained financial losses thereby, and wish to serve as lead plaintiff in this action, you must move the Court no later than December 29, 2003. Direct all inquiries regarding this matter to Denton L. Keener of Raging Bull Holdings by telephoning (828) 734-2097, via email to ragingbullinvgroup@charter.net, via regular mail to 177 Walnut Street Suite 9, Waynesville, NC 28786. A copy of this complaint is available from the Court or by contacting Raging Bull Holdings. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest On May 09, 2008, a motion to appoint lead plaintiff and lead counsel was filed by a certain individual and a proposed order has been entered at the same time. Just as quickly, an Order granting motion to appoint lead plaintiff and for the approval of lead counsel was entered on June 09, 2008.
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A class action has been filed against Bayou Hedge Fund Entities and its officers and directors by stockholders who purchased the company's common stock between December 31, 1996 and August 25, 2005. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. The parties have reached a tentative $2.3 million settlement of a class action filed against dietary supplements maker PharmaPrint, Inc. (Pink Sheets: PPRT, formerly OTCBB: PPRT) and certain of its officers and directors by stockholders who purchased the company's common stock between July 1 and November 15, 1999. Several class actions have been filed against pharmacy benefit management company Express Scripts, Inc., (Nasdaq:ESRX) and certain of its officers and directors by stockholders who purchased the company's common stock between October 29, 2003, and August 3, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. A class action has been filed against Vertex Pharmaceuticals Inc. (Nasdaq: VRTX) and certain of its officers and directors by stockholders who purchased the company's common stock between March 27, 2000, and September 24, 2001. |
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