Global Brokerage Inc (OTCMKTS:GLBR), formerly known as FXCM Inc, has just posted a set of unaudited metrics for the quarter to end-June 2021, with the numbers revealing a rise in stockholders’ deficit in the quarter.

The broker posted total stockholders’ deficit of $173.2 million at the end of the second quarter of 2021. This compares with stockholders’ deficit of approximately $164 million at the end of the first quarter of 2021. This compares with a deficit of $155 million at the end of 2020.

Let’s note that the company has stopped filing financial reports with the US Securities and Exchange Commission (SEC) following Global Brokerage’s delisting and bankruptcy. Hence, the lack of any explanation for the results being what they are.

Looking at the key financial metrics, let’s mention that Global Brokerage reported total net revenues of $22.73 million for the second quarter of 2021. This compares to a result of $31.5 million for the first quarter of 2021.

Net loss attributable to Global Brokerage Inc is approximately $9.09 million in Q2 2021. This compares to a net loss of $8.5 million reported for Q1 2021.

Global Brokerage has been a defendant in a number of lawsuits. One of these has been launched by investors in the broker. The case stems from the events from February 2017, when FXCM reached settlements with the CFTC and NFA, in a move that led to its exit from the US retail FX market. The price of FXCM’s securities plummeted after the regulatory settlements were announced, thereby damaging investors in FXCM Inc.

The plaintiffs brought this class action suit against FXCM, Dror Niv and William Ahdout, alleging that, from March 15, 2012 until February 6,2017, Defendants committed securities fraud in violation of Sections IO(b) and 20(a) of the Securities Exchange Act of 1934 and Rule l0(b)-5. Specifically, the plaintiffs allege that the defendants were responsible for false or misleading statements with respect to FXCM’s purported agency-trading model and FXCM’s relationship with another company, Effex Capital.

In March 2021, the plaintiffs in this action secured partial class certification.