The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been brought on behalf of investors who purchased the securities of Investment Technology Group, Inc. (“ITG” or the “Company”) (NYSE:ITG) between February 28, 2011 through August 3, 2015, inclusive (the “Class Period”).

If you purchased ITG securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than October 5, 2015. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the actions.

ITG investors who wish to learn more about the actions and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.

Background on the ITG Securities Class Litigation

The actions charge ITG and certain of its senior executives with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. ITG, headquartered in New York, New York, describes itself as “an independent execution and research broker that partners with global portfolio managers and traders to provide unique data-driven insights throughout the investment process.”

The actions allege that throughout the Class Period, defendants issued materially false and misleading statements and failed to disclose material adverse facts concerning ITG’s POSIT network, an Alternative Trading System or “dark pool.” Specifically, defendants allegedly misrepresented and/or failed to disclose that between April 2010 through July 2011, ITG operated a proprietary trading pilot called “Project Omega” in concert with its dark pools, which allow anonymous trades between buyers and sellers, and used confidential customer data on those orders to make its own trades, including trades against subscribers in its POSIT dark pool.

On July 29, 2015, ITG announced that it was in settlement discussions with the Securities and Exchange Commission (the “SEC”) relating to the SEC’s investigation of Project Omega and that ITG may pay $20.3 million to settle the probe. Following this news, the price of ITG common stock fell $5.64 per share, or 23.5%, to close at $18.36 per share on July 30, 2015.

On August 3, 205, ITG announced that it was replacing its Chief Executive Officer (“CEO”) and its General Counsel. The Wall Street Journal reported that the CEO’s departure was related to his failure to disclose to ITG’s Board certain details of alleged improprieties relating to the firm’s dark pool. On August 3, 2015, ITG’s share price declined $0.84 per share, or approximately 4.1%, to close at $19.51 per share.

On August 12, 2015, the SEC announced its settlement with ITG and its affiliate and released an Order that included detailed admissions of wrongdoing by ITG, and imposed a civil penalty in the amount of $18,000,000 – the largest civil penalty to date assessed by the SEC against an Alternative Trading System – in addition to over $2 million in disgorgement of total proprietary revenues generated by Project Omega and pre-judgment interest of over $250,000.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for twelve years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs' bar and that demonstrated unusual dedication and creativity.” Best Lawyers and U.S. News have named Lieff Cabraser as a “Law Firm of the Year” for each year the publications have given this award to law firms, including in 2015.

For more information about Lieff Cabraser and the firm’s representation of investors, please visit lieffcabraser.com.

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