Wohl & Fruchter LLP Law Firm Investigating Merger Between CME Group Inc. and GFI Group Inc.

By Business Wire,  July 30, 2014, 10:41:00 AM EDT


NEW YORK--(BUSINESS WIRE)-- The law firm of Wohl & Fruchter LLP is investigating whether the directors of GFI Group Inc. (NYSE:GFIG) ("GFI") breached their fiduciary duties to shareholders by approving a merger with CME Group Inc. (NASDAQ:CME) ("CME").

On July 30, 2014, CME and GFI announced that they had entered into an agreement under which CME will acquire all of the shares of GFI for $4.55 per share, payable in CME common stock.

Immediately following CME's acquisition of GFI, a private consortium of GFI management, led by current Executive Chairman Michael Gooch, CEO Colin Heffron and Managing Director Nick Brown, will acquire GFI's wholesale brokerage and clearing businesses, including the Kyte Group, back from CME for $165 million in cash and the assumption, at closing, of approximately $63 million of unvested deferred compensation and other liabilities.

Wohl & Fruchter's investigation concerns whether the approval of the transaction above by the directors of GFI was improperly motivated by conflicts of interest created by CME's agreement to sell back GFI's wholesale brokerage and clearing businesses to GFI senior management as part of the transaction.

Additional information is available at http://www.wohlfruchter.com/cases/gfig.

Persons with relevant information, and GFI shareholders with questions about this investigation, are invited to contact our Firm by calling 866.833.6245, or contacting the attorney below.

About Wohl & Fruchter

Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.

This release may be deemed to constitute attorney advertising.

Source: Wohl & Fruchter LLP



This article appears in: News Headlines

Referenced Stocks: CME, GFIG


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