KCG Holdings (KCG)

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Graves Bartle Marcus & Garrett, LLC Announces Class Action Lawsuit Against Knight Capital -- KCG GlobeNewswire   "Press Releases"

Tuesday, September 04 2012 1:39 PM, EST

KANSAS CITY, Mo. , Sept. 4, 2012 (GLOBE NEWSWIRE) -- Graves Bartle Marcus & Garrett, LLC announces that a class action lawsuit has been filed in the United States District Court for the Western District of Tennessee on behalf of all persons who owned or otherwise acquired the common stock of Knight Capital Group, Inc. (" Knight Capital ") (NYSE:KCG) on the New York Stock Exchange between February 29, 2012 and August 1, 2012 , inclusive. The class action is captioned Philip Osgood v. Knight Capital Group, Inc. , Case No. 12-cv-01186 (EGB). This action is brought against Knight Capital for violations of the Securities Exchange Act of 1934 and the Tennessee Consumer Protection Act.

The Complaint alleges that when trading opened on the NYSE on Wednesday, August 1, 2012 , Knight Capital was utilizing newly installed trading software that contained a faulty algorithm, or algorithms that did not properly interface with Knight's existing trading network. The faulty software caused Knight Capital to acquire a large volume of stock shares at unfavorable prices. At some point on August 1, 2012 , Knight Capital held nearly $7,000,000,000 worth of stocks as a result of the faulty trading algorithm or algorithms. Knight capital sold shares throughout the day and was left with a position of $4,600,000,000 by the close of trading. As a result of these faulty algorithms, Plaintiff and class members have suffered losses.

If you owned or otherwise acquired common stock of Knight Capital between February 29, 2012 and August 1, 2012 , you may, no later than November 2, 2012 , request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your ability to share in any recovery is not affected by your decision to serve as lead plaintiff and you may choose to do nothing and remain an absent class member.You may retain Graves Bartle Marcus & Garrett and its co-counsel to represent you or you may retain other attorneys as your counsel in this action.

If you wish to discuss this action or have any questions concerning this notice, please contact Plaintiff's counsel, David L. Marcus at 816-256-3181 or via email at [e-mail] can obtain a copy of the complaint from the Court, or you can view it at
www.investmentlossattorneys.com .

Plaintiffs are represented by the law firms of Graves Bartle Marcus & Garrett, LLC , Davis, Bethune & Jones, LLC and Stueve Siegel Hanson, LLP .These firms have expertise in prosecuting complex commercial disputes, investor class actions and actions involving financial fraud.

CONTACT: David L. Marcus 816-256-3181 [e-mail]
Source: Graves Bartle Marcus & Garrett LLC