Saturday, 20 September 2014
Last updated 22 hours ago
May 26 2010 | 9:38am ET
In the nine days since the Man Group announced its plan to buy GLG Partners, only one shareholder lawsuit has been filed seeking to block the deal. But there could soon be a whole lot more.
Within days of the announcement, nine separate law firms announced investigations into the deal on behalf of GLG stockholders, according to the SPAC Report. Among the firms looking into whether there has been a breach of fiduciary duty are Brodsky & Smith, Bull & Lifshitz, Kendall Law Group and Levi & Korsinsky.
Investor advocacy group the Shareholder Foundation is also probing the deal.
While Man’s offer price for GLG shares was a 55% premium to their price just prior to the announcement, it is also a 52% discount to what GLG shares traded for when the London-based hedge fund went public in a reverse-merger on the New York Stock Exchange in 2007. At their peak, GLG shares traded at $13.90; Man wants to pay $4.50.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.