Press release from Business Wire
SHAREHOLDER ALERT: Law Firm of Wohl & Fruchter LLP Announces Investigation of E*TRADE Financial Corporation
Wednesday, August 07, 2013
SHAREHOLDER ALERT: Law Firm of Wohl & Fruchter LLP Announces Investigation of E*TRADE Financial Corporation15:11 EDT Wednesday, August 07, 2013
NEW YORK (Business Wire) -- The law firm of Wohl & Fruchter LLP is investigating possible violations of federal securities laws by officers and directors of E*TRADE Financial Corporation (ETRADE) (NASDAQ: ETFC).
On August 6, 2013, ETRADE disclosed in a Form 10-Q filing with the Securities & Exchange Commission (SEC) that, on July 11, 2013, the Financial Industry Regulatory Authority (FINRA) advised the Company that it was investigating the order routing practices of two of the Company's units - E*Trade Securities LLC and G1 Execution Services LLC.
In connection with the disclosure, ETRADE stated that regulators “may initiate investigations into the company's historical practices which could subject it to monetary penalties and cease-and-desist orders . . . prompt claims by customers of E*Trade Securities LLC . . . [and] materially and adversely affect the company's broker-dealer businesses.”
Since the above news, ETFC shares have dropped over 3% during trading on August 7, 2013.
Persons with relevant information, and ETFC shareholders with questions about this investigation, are invited to contact the attorney below, or our Firm by calling 866.833.6245.
Additional information, including a link to download ETRADE's latest Form 10-Q filing, is available on our website at: http://www.wohlfruchter.com/cases/etfc.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
This release may be deemed to constitute attorney advertising.
Wohl & Fruchter LLP
J. Elazar Fruchter, 845-425-4658
Toll Free: 866-833-6245