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SINAI ROTH et al v KNIGHT TRADING GROUP INC Click to find out why . . .


Keywords & Phrases
CaseNo: SREAVKTGI211402, CourtName: MISC 3, Plaintiff: SINAI ROTH et al, State: NJ New Jersey, UniqueCaseRef: LCD>SREAVKTGI211402, Knight, Knight Trading Group, Class Action, Market, Revenues, Public Statements, Stock, Trades, Act, Kenneth, Complaint, Customers, Knight Traders, Securities, Individual Defendant, Asset Management, Diluted Basis, Net Income, Misleading, Front-running, Chief Executive Officer, Market-making, Institutions, Trading Group Reports, Llp, Publicly Filed Documents, Common Stock , ContentID: 120252971

Case Documents
1   COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 128771 		28 pages
PDF
Total Documents: 1 document , 28 pages
Price: $ 19.95


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1 . COMPLAINT

EXTRACTED KEY WORDS 
KNIGHT TRADING GROUP
PLAINTIFFS
DEFENDANTS
CLASS ACTION
MARKET
REVENUES
PUBLIC STATEMENTS
STOCK
TRADES
ACT
BUSINESS
KENNETH
COMPLAINT
CUSTOMERS
KNIGHT TRADERS
SECURITIES
INDIVIDUAL DEFENDANT
ASSET MANAGEMENT
DILUTED BASIS
NET INCOME
MISLEADING
FRONT-RUNNING
CHIEF EXECUTIVE OFFICER
MARKET-MAKING
INSTITUTIONS
TRADING GROUP REPORTS
LLP
PUBLICLY FILED DOCUMENTS
COMMON STOCK

LEE SQUITIERI
SQUITIERI & FEARON, LLP
615 Franklin Turnpike
Ridgewood, NJ 07450
Telephone:  (201) 444-2888
Facsimile:    (201) 444-1683

LIONEL Z. GLANCY
MICHAEL GOLDBERG
GLANCY & BINKOW LLP
1801 Avenue of the Stars, Suite 311
Los Angeles, California  90067
Telephone: (310) 201-9150
Facsimile:             (310) 201-9160

IRA M. PRESS
KIRBY, MCINERNEY & SQUIRE LLP
830 Third Ave, 10th Floor
New York, NY 10022
Telephone:   (212) 317-2300
Facsimile:     (212) 751-2540

Attorneys for Plaintiffs

                                        UNITED STATES DISTRICT COURT

                                               DISTRICT OF NEW JERSEY


 SINAI ROTH and ERIC SIMON, Individually and on                  Case No.
 Behalf of All Others Similarly Situated,
                                                                 CLASS ACTION COMPLAINT
                                     Plaintiffs,                 FOR VIOLATION OF THE
                                                                 FEDERAL SECURITIES LAWS
      v.
                                                                 JURY TRIAL DEMANDED
 KNIGHT TRADING GROUP, INC., and KENNETH
 D. PASTERNAK,

                                     Defendants.



           Plaintiffs Sinai Roth and Eric Simon, by their attorneys, for their Class Action


Complaint (the "Complaint") allege the following upon personal knowledge as to

themselves and their own acts, and upon information and belief based upon the
SNIPPETS:
  • LLP
  • KNIGHT TRADING GROUP, INC., and KENNETH
  • Plaintiffs Sinai Roth and Eric Simon, by their attorneys, for their Class Action
  • Complaint allege the following upon personal knowledge as to
  • thorough review and analysis of public statements, publicly filed documents of Knight
  • This is a securities class action on behalf of public investors who purchased
  • Knight Trading Group, Inc., a Delaware corporation headquartered in Jersey
  • City, New Jersey, is in the business of market-making in equity securities and options in
  • asset management ­ and six principal subsidiaries:
  • defendants issued public statements in press
  • releases which fraudulently created the false impression that Knight provided its customers
  • with the ability to execute trades immediately at the price specified by the customer.
  • issued public statements in press releases which failed to disclose that Knight traders
  • those customers from obtaining the proceeds resulting from rising stock prices for the
  • defendants' front-running ­ more expensive for the customers who initially had placed the
  • Knight and the Individual Defendant were aware of the true nature of Knight's
  • Securities Exchange Act of 1934, 28 U.S.C. §§ 1331 and 1337.
  • Plaintiff Sinai Roth purchased shares of Knight common stock during the
  • misleading prior to their issuance and had the ability and opportunity to prevent their filing
  • outstanding and such shares were actively traded on the Nasdaq National Market.
  • Revenues for the first quarter of 2000 rose 152% to $513.1 million, compared to $203.4
  • Pro forma net income for the first quarter of 2000 totaled $135.6 million, or $1.07 per share
  • Revenues and pro forma net income for the first quarter of 2000 increased 81% and 104%,
  • Instead, market volume and volatility are the main drivers of our business," said Kenneth D.
  • Knight Trading Group Reports Third Quarter Earnings Per Share of $0.16 Market Conditions and
  • We believe that this market environment caused self-directed individual investors to take a
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