MarketVise has announced plans to shut down its Legacy Research arm, citing allegations of misconduct by certain managers. The reorganization includes the closure of Legacy Research subsidiary brands and is expected to be completed in the first half of the year.

The operation has 104 employees, representing about 18% of MarketVise’s total workforce, who will either be offered new roles or have their jobs eliminated. MarketVise said the closure of Legacy Research is in response to misconduct and demonstrates its commitment to providing reliable and independent financial research to subscribers. The company also noted that it will make every effort to serve Legacy Research’s existing customers by offering similar products released by other MarketVise brands.

MarketVise reported that net income for Legacy Research was on the decline during 2023 and was around $9 million for the last six months of the year. The company added that it is currently unable to estimate the costs of the reorganization and shutdown, as well as the impact on the company’s overall results. He indicated that he would disclose this information after determining the estimates or range of estimates.

MarketVise’s decision to terminate Legacy Research is a significant move for the company as it seeks to address alleged misconduct and maintain its commitment to providing reliable and independent financial research to subscribers. The closing of the Legacy Research subsidiaries, along with the reorganization of operations, is expected to be completed in

By Editor

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