Reuters: Bankruptcy News: Former broker Penson Worldwide files for bankruptcy

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Former broker Penson Worldwide files for bankruptcy Jan 11th 2013, 22:09 Fri Jan 11, 2013 5:09pm EST Jan 11 (Reuters) - 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. The case is Penson Worldwide Inc, U.S. Bankruptcy Court for the District of Delaware, No. 13-10061.

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