Newman Ferrara LLP Announces Investigation of GFI Group Inc.
Newman Ferrara LLP has begun an investigation into potential claims against the board of directors of GFI Group Inc. ("GFI") (NYSE: GFIG) concerning its proposed merger agreement with CME Group Inc. ("CME") (NasdaqGS: CME).
On July 30, 2014, GFI announced that it had entered into an agreement and plan of merger to be acquired by CME in an all-stock transaction that will completed in two steps. First, under the merger agreement, GFI stockholders will receive $4.55 per share in CME Class A common stock shares for each share of GFI stock owned. Then, following CME's acquisition of GFI common stock, a private consortium of GFI management, led by Chief Executive Officer Colin Heffron, Executive Chairman Michael Gooch, and Managing Director Nick Brown, will acquire GFI's wholesale brokerage and clearing businesses for $165 million in cash.
Newman Ferrara's investigation concerns whether GFI's Board of Directors has breached its fiduciary duties to act in the best interests of GFI stockholders. The investigation focuses on the potential unfairness of the consideration being provided to GFI stockholders and the process by which GFI's Board of Directors considered and approved the proposed deal.
Concerned investors may contact Newman Ferrara attorney Roy Shimon at (212) 619-5400 or rshimon@nfllp.com to discuss this investigation, their rights, or potential remedies.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.
CONTACT:
Newman Ferrara LLP
Roy Shimon
1250 Broadway, 27 th Fl.
New York, NY 10001
Tel. (212) 619-5400