On February 17, 2016, the United States Securities and Exchange Commission voluntarily dismissed EXANTE as a defendant from the action. As a result, EXANTE is no longer a party to the action. EXANTE paid no money to the SEC in exchange for the SEC's agreement to dismiss EXANTE.
This outcome is a complete vindication of EXANTE's position that it was wrongly named as a defendant in the action.
EXANTE works under license no. IS/52182 issued by the Malta Financial Services Authority (MFSA). EXANTE is a broker and provides direct market access (DMA) to most markets in the world. EXANTE is pleased to have now put this ordeal behind it and to continue providing its clients with outstanding service and security to build a strong recognizable brand with a solid reputation as one of the world's leaders in providing DMA services to investors.
We greatly appreciate the support of our clients in this matter, and we truly hope we have justified your trust.
EXANTE was represented in the action by Howard Schiffman, a former SEC prosecutor, and Eric A. Bensky of Schulte Roth & Zabel LLP, a U.S.-headquartered law firm that routinely represents major financial services organizations.
The full press release is available on the SEC official website: https://www.sec.gov/litigation/litreleases/2016/lr23471.htm