NEW YORK, May 21, 2020 /PRNewswire/ --
URGENT: STOCKHOLDER VOTE JUNE 5, 2020; GAIN ACQUISITION MAY BE UNFAIR TO STOCKHOLDERS
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of GAIN Capital Holdings, Inc. ("GCAP" or the "Company") (NYSE: GCAP) in connection with the proposed acquisition of the Company by INTL FCStone Inc. (NASDAQ: INTL) ("INTL"). Under the terms of the acquisition agreement, GCAP shareholders will receive a mere $6.00 per share in cash.
If you own GCAP shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether GCAP's board acted to maximize shareholder value, as three of the Company's eight directors have voted against the proposed merger, citing the Company's recent strong financial performance since executing the merger agreement. An activist investor recently reported its belief that the $6.00 per share consideration should be increased by at least $2.00 per share. Since executing the merger agreement, GAIN has reported a 131% increase in average daily trading volume compared to the first quarter of 2019. Indeed, the offer price represents $1.40 per share less than GCAP's 52-week high of $7.40.
Moreover, stockholders holding approximately 44% of the Company's stock have essentially locked up the deal, agreeing to vote their shares in favor of the merger, including the Company's CEO who will receive approximately $12.4 million for cashing in his GAIN shares and has secured employment with the combined company.
WeissLaw is concerned whether the proposed acquisition undervalues the Company, the board ran a fair process, and all material information concerning the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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SOURCE WeissLaw LLP