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Schneider Wallace Appointed Co-Lead Counsel in Securities Class Action Against Penson Worldwide, Inc.

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On January 19, 2012, Judge Reed C. O’Connor of the United States District Court for the Northern District of Texas approved of the appointment of Schneider Wallace Cottrell Konecky LLP to serve as co-lead counsel in this securities class action. The action was brought on behalf of purchasers of securities of Penson Worldwide, Inc. (“Penson”) common stock during the period of February 10, 2011 through August 4, 2011 and alleges that Penson and certain of its executives violated the federal securities laws by making misrepresentations and failing to disclose material information relating to the Company’s exposure to bad debt issued by the Retama Development Corp., a horse racing track and real estate project.
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