Shareholder Lawsuit Brought on Behalf of BGC Partners Shareholders
NEW YORK, April 10, 2012 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, announces that a lawsuit has been brought on behalf of shareholders of BGC Partners. The lawsuit alleges that Cantor Fitzgerald, the controlling shareholder of BGCP, has improperly (1) caused BGC to issue to Cantor Fitzgerald a bond offering on terms that are favorable to Cantor Fitzgerald and unfair to BGC; (2) caused BGC to engage in a series of common stock offerings whereby BGC sells millions of its Class A shares to the public at a lower; and (3) caused or allowed to be adopted an amended version of Cantor Fitzgerald's Chairman and CEO's Change-in-Control agreement such that he would receive enormous windfall payments and benefits upon a change in control of BGC.
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SOURCE Tripp Levy PLLC