Wolf Popper LLP Announces Investigation on Behalf of Shareholders of FXCM Inc.

NEW YORK, Feb. 24, 2015 /PRNewswire/ -- Wolf Popper LLP is investigating potential corporate malfeasance by the Board of Directors of FXCM Inc. (NYSE: FXCM), including whether the Board has breached fiduciary duties to shareholders.

On January 15, 2015, the Swiss National Bank issued a press release disclosing that it "is discontinuing the minimum exchange rate of CHF 1.20 per euro." On the Swiss National Bank's announcement, the euro plummeted in value from 1.20095 Swiss Francs to .97554 Swiss Francs – a decline of approximately 20%. In the aftermath of the Swiss regulatory directive, FXCM senior management revealed that it had a concentration of accounts that had placed bets in favor of the euro that were inadequately collateralized and that those accounts had experienced $225 million in losses to FXCM beyond the collateral maintained in those accounts.  

Wolf Popper is investigating whether FXCM's management and Board abdicated their responsibilities to the corporation by failing to identify: (i) the regulatory risk that the Swiss National Bank could abandon the artificial maintenance of the Euro against the Swiss Franc, and (ii) the concentration of undercapitalized accounts that would suffer losses if the artificial maintenance of the Euro was abandoned.

Shareholders of FXCM are urged to contact Robert C. Finkel at 877.370.7703 or [email protected].

Wolf Popper LLP has extensive experience representing shareholders in securities class actions and has successfully recovered billions of dollars for defrauded investors. The reputation and expertise of the firm in representing shareholders has been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com.

Attorney Advertising: Prior Results Do Not Guarantee A Similar Outcome.

Wolf Popper LLP
Robert C. Finkel
845 Third Avenue
New York, NY 10022
Tel.: 877.370.7703
Fax: 877.370.7704
Email: [email protected]

SOURCE Wolf Popper LLP

Related Links

http://www.wolfpopper.com/

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