Securities Class Action Lawsuit Filed Against Penson Worldwide, Inc.
On August 23, 2011, a class action lawsuit was filed in the United States District Court for the Northern District of Texas against Penson Worldwide, Inc. (NASDAQ: PNSN). The complaint alleges violations of federal securities laws, Sections 10 and 20 of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price. The class period is from February 10, 2011 through August 4, 2011.
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