Penson Worldwide Inc, once a securities clearing broker that has since divested most of its operations, filed for Chapter 11 bankruptcy on Friday, according to court documents. Last year the company sold its futures division to Knight Capital Group Inc and its broker-deal subsidiary to Apex Clearing Corp.The company said in filings with the U.S. Bankruptcy Court in Delaware it was unable to successfully streamline is business after the asset sales. It was also dogged by questions from the Securities and Exchange Commission about its accounting and a class action lawsuit by shareholders.The company listed both assets and liabilities of between $100 million and $500 million.The Plano, Texas, company, which was founded in 1995, said it expects to sell its only remaining operating business, Nexa Technologies. Nexa develops and markets customizable securities trading platforms.
Knight Capital Group, Inc. is a United States-based company that provides financial services. Shares of KCG fell by 0.82% or $-0.03/share to $3.62. In the past year, the shares have traded as low as $2.24 and as high as $13.59. On average, 4307870 shares of KCG exchange hands on a given day and today's volume is recorded at 815710.
Penson Worldwide, Inc. (Penson), through Penson Financial Services, Inc. Shares of PNSN remained unchanged at $0.03. In the past year, the shares have traded as low as $0.01 and as high as $1.76. On average, 146762 shares of PNSN exchange hands on a given day and today's volume is recorded at 45437.
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