TMCnet News
Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of INTL FCStone Inc.BENSALEM, Pa. --(Business Wire)-- Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of INTL FCStone Inc. ("INTL" or the "Company") (NASDAQ:INTL) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by INTL concerning the Company's financial performance. INTL provides risk management advisory services to mid-sized commercial customers, including foreign exchange and treasury services, securities execution, physical commodities trading services in listed futures and option contracts, and structured OTC products related to commodities. The investigation is related to the Company's December 17, 2013, announcement that INTL has filed a Form 12b-25 with the Securities and Exchange Commission, stating that the Company will not be able to file its Form 10K for the fiscal year ended September 30, 2013, on the due date. INTL is conducting a review to evaluate the need to restate its financial results for its 2011, 2012 and 2013 fiscal years as a result of an overstatement of trading gains discovered in the reconciliation of the Company's subsidiary, INTL FCStone Markets, LLC. The restatement will reduce previously reported trading gains by up to $10.2 million and consolidated net income by approximately $6.4 million. According to the Company, "The time frame for completing this review is not currently known and no assurances can be given that the Company will be successful in completing the filing of the Annual Report on Form 10-K for the fiscal years ended September 30, 2013 by December 31, 2013." If you purchased INTL shares, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
|
