A securities class action has been filed against Virtu Financial, Inc. (VIRT) on on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Virtu securities between March 1, 2019 through April 28, 2023.  This case has been filed in the USDC – E.D.N.Y.

On April 28, 2023, Virtu filed its quarterly report for the quarter ended March 31, 2023 with the U.S. Securities and Exchange Commission (“SEC”).  In the quarterly report, Virtu stated that “the Company has been responding to requests for information from the U.S. Securities and Exchange Commission in connection with an investigation of aspects of the Company’s information access barriers.  The Company is cooperating with this civil investigation and has engaged in settlement discussions in respect of the matter.  In the absence of a settlement, the Company currently believes it may receive a Wells Notice from the SEC.  The proposed action would be expected to allege violations of federal securities laws with respect to the Company’s information barriers policies and procedures for a specified time period in and around January 2018 to April 2019 and related statements made by the Company during such period.”

On this news, Virtu’s stock price fell $1.13 per share, or 5.68%, to close at $18.77 per share on May 3, 2023.