Top Trial Firm Cohen, Placitella & Roth, PC Investigating Intl FCStone, Inc. Over False and Misleading Financial Statement
By: CPR @ Apr 03, 2014
Cohen, Placitella and Roth, PC is investigating claims on behalf of investors who purchased Intl FCStone, Inc. (“Intl FCStone” or the “Company”) (Nasdaq: INTL) stock between February 17, 2010 and December 16, 2013, inclusive. The investigation concerns whether Intl FCStone and certain of its officers and/or directors disseminated material false and misleading information to investors in violation of Sections 10(b), and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, and Sections 11, 12(a)(2) and 15 of the Securities Act of 1933.
Intl FCStone is a holding company focused on the financial services industry whose subsidiaries offer a range of financial services to customers worldwide. The investigation focuses on the Company’s false and/or misleading statements during the relevant period, relating to problems the Company encountered integrating its acquisitions. In particular, the Company should have been aware that the financial reporting at its subsidiary Intl FCStone Markets, LLC was weak and that other internal controls, too, were inadequate. This led the Company to issue false financial statements that materially overstated revenue.
On December 17, 2013, the Company announced that it could not file with the Securities and Exchange Commission its Annual Report on Form 10-K for the year ended September 30, 2013. Intl FCStone disclosed that it had “identified errors in the reconciliation of [its] subsidiary[‘s] accounting records to its back office system. . . .” As a result of the “errors,” the Company disclosed that it may have overstated its revenues for fiscal years 2012 and 2011.
If you have any information on Intl FCStone’s integration issues, its false financial statements or its internal controls and/or you wish to discuss your rights related to a loss in your investment in Intl FCStone, please contact Eduardo Texidor at [email protected] or, toll free, at 1-215-567-3500. For those investors inquiring via email, please be sure to include “Intl FCStone” in the subject line, the number of shares purchased, and your mailing address and telephone number.
Since 1973, Cohen, Placitella & Roth, PC has been recognized as one of the premier trial law firms in the country. The firm has extensive experience in prosecuting securities litigation involving violations of the federal securities laws, state law derivative actions and mergers and acquisitions cases, representing institutional investors such as public pension plans and union pension funds as well as individual shareholders suffering substantial investment losses due to corporate misconduct. LexisNexis Martindale-Hubbell® annually reports Cohen, Placitella & Roth’s peer rating-the highest AV® – “a testament to professional excellence.” Since the inauguration of its “Best Law Firms”‘ edition in 2010, U.S. News and World Report has annually listed Cohen, Placitella & Roth’s as one of the top-tier class action law firms in the country.
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