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Stock Market & Financial Investment News

News Breaks
July 22, 2014
14:35 EDTITGPhiladelphia Financial reports 6.3% stake in ITG, seeks CEO change or sale
Philadelphia Financial acquired their shares of Common Stock based upon their view that the stock is trading below its intrinsic value due to inappropriate management of the company by its current CEO. Philadelphia Financial seeks to influence the board of directors of the company to change the CEO and or to sell the company to another company thereby achieving gains in Common Stock of the company for the current shareholders. The actions of Philadelphia Financial are based upon a detailed and complex analysis of the company, its operations, financial results, competitive environment, the general economic environment in which it operates, securities markets in general and the market for the company’s securities in particular as well as other factors. Accordingly, Philadelphia Financial reserves the right to change its intentions and develop new or different proposals at any time as it deems appropriate.
News For ITG From The Last 14 Days
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August 4, 2015
12:26 EDTITGITG ex-CEO Gasser failed to disclose alleged improprieties, WSJ says
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August 3, 2015
17:10 EDTITGITG says Q2 GAAP EPS (30c) includes reserve for $22.6M SEC settlement
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17:08 EDTITGITG reports Q2 adjusted EPS 32c, consensus 35c
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09:31 EDTITGITG provides update on potential settlement
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09:27 EDTITGITG replaces CEO Bob Gasser with Jarrett Lilien
ITG (ITG) announced that it has replaced Bob Gasser as its CEO with Jarrett Lilien, a member of the ITG board and the former president and COO of E-TRADE Financial (ETFC), effective immediately. ITG also announced that Associate General Counsel Angélique DeSanto has been named General Counsel. Maureen O’Hara, chairman of the board of ITG, said “We are very pleased that Jarrett has agreed to serve as interim CEO while we consider our options for a permanent CEO."
July 30, 2015
12:55 EDTITGOn The Fly: Top stock stories at midday
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09:52 EDTITGITG plummets after setting aside $20.3M for SEC settlement
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July 29, 2015
17:33 EDTITGITG reports Q2 preliminary adjusted EPS 32c, consensus 39c
Preliminary adjusted EPS excludes a reserve for a probable settlement with the SEC and related fees totaling $22.6M pre-tax and $21.6M after taxes, or 62c per diluted share.

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