CANTOR FITZGERALD is being sued in America by an investor who claims that the US broker misled shareholders over the performance of eSpeed, its electronic dealing company.
The investor, represented by Mircuz Partners, claims that Howard Lutnick, the chairman of Cantor Fitzgerald, and Lee Amaitis, the vice-chairman, issued misleading statements to the market during the nine months to July last year.
According to the writ, the pair insisted that eSpeed was maintaining its lead over BrokerTec, the electronic dealing company owned by Icap.
In the first quarter of last year, Mr Lutnick said: “As we look ahead for the rest of 2004, we remain confident in eSpeed’s leadership position in US Treasuries.”
At the same time, Mr Amaitis said that better prices from the electronic