SHAREHOLDER ALERT - GFI Group, Inc. MERGER INVESTIGATION: The Law Office of James C. Kelly Investigates Claims That the Proposed Acquisition May Not Be in the Best Interest of Investors of GFI Group, Inc.
NEW YORK, Aug. 1, 2014 /PRNewswire/ -- The Law Office of James C. Kelly is investigating claims on behalf of investors of GFI Group, Inc. ("GFI" or the "Company") (NYSE: GFIG), concerning the proposed acquisition of GFI by CME Group Inc. Shareholders of GFI seeking more information about this acquisition are advised to contact James C. Kelly at 888.643.7517 or [email protected].
On July 30, 2014, GFI and CME announced the signing of a definitive merger agreement pursuant to which CME will acquire GFI. Under the terms of the agreement, GFI shareholders will receive $4.55 per share in CME Class A Common Stock for each share of GFI stock owned. Following the closing of the transaction, CME will sell GFI's wholesale brokerage and clearing businesses to a private consortium of GFI management.
The firm's investigation seeks to determine, among other things, whether the Company's Board of Directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into the transaction, and whether CME is underpaying for GFI shares.
Our Firm's investigation has so far uncovered that the process leading up to the announcement of the merger appears to have some questionable conflicts of interest, thus making the process and consideration unfair. Specifically, following the merger, GFI management will buyback GFI's brokerage business, Kyte Group, from CME for $165 million in cash along with the assumption of $63 million of unvested deferred compensation and other liabilities. Based on this information, our investigation is looking into whether the brokerage business buyback led by GFI management tainted the sales process and impeded management's ability to negotiate the best possible deal for GFI shareholders.
The Law Office of James C. Kelly has extensive experience representing shareholders in mergers and acquisition actions. Visit our website for additional information at http://www.jckellylaw.com
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The Law Office of James C. Kelly
244 5th Avenue, Suite K-278
New York, New York 10001
Tel: 212-920-5042
Toll Free Tel: 888-643-7517
Toll Free Fax: 888-224-2078
Email: [email protected]
SOURCE The Law Office of James C. Kelly
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