Core Viewpoint - A class action lawsuit has been filed against Marex Group PLC, alleging significant accounting irregularities and misleading disclosures that have impacted investors during the specified Class Period from May 16, 2024, to August 5, 2025 [1][5]. Summary by Sections Lawsuit Details - The lawsuit is filed in the United States District Court for the Southern District of New York, with claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [1]. - Investors have a 60-day window from the notice date to move the Court to serve as lead plaintiff in this action [2][6]. Allegations Against Marex - A report by NINGI Research on August 5, 2025, accused Marex of engaging in a multi-year accounting scheme involving off-balance-sheet entities and fictitious transactions to conceal losses and inflate profits [3]. - Specific allegations include a $17 million receivable created without basis, a subsidiary's profit inflated by 150%, and a $14.9 million asset sold for only $2.5 million shortly after, with no loss reported [3]. - The report also claimed Marex concealed nearly $1 billion in off-balance-sheet derivatives exposure through a Luxembourg fund, misclassifying structured note issuance as income [3]. Market Reaction - Following the allegations, Marex's stock price dropped by $2.33, or 6.2%, closing at $35.31 per share on August 5, 2025, with unusually high trading volume [4]. Misleading Statements - The complaint alleges that Marex made materially false and misleading statements throughout the Class Period, failing to disclose critical adverse facts about its business and financial health [5]. - Specific failures included undisclosed over-the-counter financial instruments sold to itself and inconsistencies in financial statements among subsidiaries [5].
MRX CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit On Behalf Of Marex Group PLC Shareholders