Activist Investor, Pulte, Calls for Virtu Financial to Be Sold

BOCA RATON, Fla., Dec. 17, 2024 /PRNewswire/ -- The Pulte Family Office, a current activist shareholder in Virtu Financial and the founding family of one of the nation's largest homebuilders PulteGroup, is calling upon Virtu Financial to sell itself to either a third-party private equity firm or to another public company. William J. Pulte, Chairman of The Pulte Family Office, stated:

"After significant review and attempts to work with management constructively, it appears to us that current CEO Doug Cifu is not focused on building a materially bigger business and spends precious time tweeting on items not related to the core operations of the company. As such, it now makes sense to put the Company in the hands of professional owners. We strongly encourage the Board of Directors of Virtu Financial to pursue strategic alternatives, including but not limited to selling themselves to an owner who can unlock the true potential of Virtu."

Pulte stated, "We predict that if change is not made soon, Virtu Financial will and should be sold. We stand ready to help usher in the change for a new generation of Virtu Financial. If the company does not elect to explore a sale, we may be forced to bring forth a proxy contest or other actions as appropriate, legal, and necessary."

SOURCE The Pulte Family