April 20, 2018 / 11:55 PM / 9 months ago

Lawsuit claiming GFI Group pushed shareholders to sell too soon is dismissed

A federal judge on Friday threw out a lawsuit by former GFI Group Inc shareholders, who said a single misleading statement by its chairman caused them to prematurely sell their shares at a lower price than if they had waited for a bidding war to ensue.

The decision by U.S. District Judge William Pauley in Manhattan was a defeat for investors who sold their shares in the six weeks after CME Group Inc agreed in July 2014 to buy the derivatives brokerage for $4.55 per share.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2HMzENn

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