GFI Group Inc. Merger Litigation (NYSE: GFIG)
SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Class Action and Derivative Lawsuit in Connection with the Sale of the Company- GFIG
BALA CYNWYD, September 9, 2014 /PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it has filed a lawsuit in the Court of Chancery of the State of Delaware against the Board of Directors of GFI Group Inc. (“GFI Group” or the “Company”) (NYSE –GFIG-News) relating to the proposed acquisition by CME Group, Inc. (“CME”).
The Complaint, which alleges breach of fiduciary duty and derivative claims, seeks to enjoin the two-step transaction whereby CME Group, Inc., by way of its wholly-owned subsidiaries, will purchase GFI Group’s business Trayport and FENICS by first acquiring all of the outstanding shares of GFI Group in exchange for $4.55 per share payable in CME Class A common stock. Immediately following the acquisition of GFI Group, a private consortium of GFI Group management will acquire GFI Group’s wholesale brokerage and clearing businesses, including Kyte Group, for $165 million in cash. The complaint alleges that the GFI consortium may be using the merger as a way to finance their acquisition of a prime GFI Group asset.
If you own shares of GFI Group common stock and wish to discuss the legal ramifications of the litigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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