Core Viewpoint - A federal securities fraud class action against Virtu Financial Inc. has survived a motion to dismiss, and a tentative settlement has been reached with the SEC regarding allegations of inadequate disclosures to investors [1][5]. Group 1: Allegations and Legal Proceedings - The class action complaint alleges that Virtu Financial Inc. and its officers made false or misleading statements and failed to disclose deficiencies in their information access policies, overstating operational and technological efficacy [3]. - The court found that from January 2018 to April 2019, proprietary traders at Virtu could access material non-public information using widely known credentials, indicating potential reckless disregard for investor information [4]. - The court concluded that the inference of scienter, or knowledge of misleading statements, was compelling based on circumstantial evidence of the defendants' failure to inform investors about the FS Database issue [4]. Group 2: Settlement and Shareholder Actions - On July 1, 2025, the SEC and Virtu Financial Inc. announced a tentative deal to resolve the lawsuit concerning inadequate customer data protection, with settlement terms acceptable to both parties [5]. - Current shareholders who held Virtu stock since on or before November 7, 2018, can seek corporate reforms and the return of litigation defense funds at no cost [2][5].