In a press release, FXCM claims it has “no responsibility or obligation for GLBR’s debt or other obligations”.
The two cases claiming damages suffered by the broker clients as a result of the undisclosed relationship between FXCM and Effex Capital are now consolidated.
NFA files a Motion to Dismiss the amended complaint by the plaintiffs citing “failure to state a claim”.
Plaintiffs in the cases Cardi et al v. FXCM, Inc. et al (1:17-cv-04699) and Nguyen v. FXCM Inc. et al (1:17-cv-02729) seek to consolidate their legal actions.
FXCM continues to market V3 and Lucid Markets for sale, restructuring leads to $8.6m in charges in H1 2017
FXCM continues to target further reduction of the Leucadia debt through non-core asset sales, with Lucid Markets and V3 actively marketed for sale.
In response to the “mega lawsuit” complaint, FXCM says it “did not take any market position by virtue of having a pay-for-flow agreement with Effex”.
Thomas W. Sexton, President and CEO of NFA, is now among the defendants in a defamation lawsuit brought by Effex Capital against NFA over the complaint and press release issued by the Association against FXCM.
Leucadia still has $122.1 million of principal balance outstanding on its loan to FXCM earning a coupon of 20.5%, the maximum allowed under the credit agreement.
The action brought by former FXCM client Vantalie Nguyen might be stayed.
The case, which involves 36 parties, including 19 defendants, slowly moves ahead at the New York Southern District Court, with the counsel for the defendants indicating a huge response to allegations is on its way.
Judge grants Effex Capital, John Dittami another time extension to respond to complaint in FXCM case
One of the court battles against FXCM, Global Brokerage, Effex Capital, and their principals is set to develop in the fall instead of the summer.
Mr Cafe joins the company along with Michael Grant, effective July 7, 2017.
The lawsuit brought by Effex Capital against NFA is turning out to be a case about availability of information on the Internet.
Effex Capital and its CEO seek a second time extension to file their response in the Nguyen v. FXCM Inc et al case.
The appointment is effective July 7, 2017.
NFA requests more time to respond to Effex Capital’s legal motion for the removal of the press release and complaint against FXCM dated February 6, 2017.
The case brought by Arthur Cardi and other former FXCM customers has been accepted as related to the case filed by Vantalie Nguyen.
The announcement is made in a Confirmation Statement filed last Friday.
There is no visible change for Lucid Markets LLP, as Lucid Markets Trading Limited is confirmed as a person with significant control.