Knight Capital Group, Inc.

Case Details

Class Period:
January 19, 2012 – August 1, 2012
Date Filed:
October 26, 2012
Case Number:
District of New Jersey

Case Summary

Saxena White served as Lead Counsel in a securities fraud class action asserting violations of the federal securities laws against Knight Capital Group, Inc. On December 20, 2013, Plaintiff filed a Second Amended Complaint.  On February 18, 2014, Defendants filed their motion to dismiss the Second Amended Complaint, along with documentation in support thereof.  On April 21, 2014, Plaintiff filed a memorandum of law in opposition to Defendants’ motion, and on June 5, 2014, Defendants filed their reply brief in further support of their motion.

On October 7, 2014, then-Magistrate Judge Arleo ordered the parties to submit confidential settlement letters in advance of a mandatory settlement conference that ultimately was scheduled for November 24, 2014.  As a result of negotiations that occurred during and after the November 24, 2014 settlement conference, the parties reached agreement on the settlement terms set forth in the Stipulation. 

The parties presented the Settlement to the Court for preliminary approval on February 10, 2015.  On February 27, 2015, the Court preliminarily approved the Settlement, directed that notice be distributed to the Class, approved a schedule of deadlines for providing notice, and set the Settlement Hearing.  On July 6, 2015, the Court entered its Final Judgment and Order of Dismissal with Prejudice recognizing the $13,000,000 Settlement as fair, reasonable and adequate.