Grant & Eisenhofer P.A., Kessler Topaz Meltzer & Check, LLP, and Bernstein Litowitz Berger & Grossmann LLP Announce a Proposed Class Action Settlement Involving Record Holders and Beneficial Holders of GFI Group, Inc. Common Stock

WILMINGTON, Del., Oct. 26, 2015 /PRNewswire/ --

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

SUMMARY NOTICE OF PENDENCY AND PROPOSED
SETTLEMENT OF STOCKHOLDER CLASS ACTION,
SETTLEMENT HEARING, AND RIGHT TO APPEAR 

PLEASE READ THIS NOTICE CAREFULLY.  YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1) and 23(b)(2) and an Order of the Delaware Court of Chancery (the "Court"), that the Action has been certified as a non-opt out class action on behalf of the Class, except for certain persons and entities who are excluded from the Class by definition as set forth in the full printed Notice of Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear (the "Notice").

YOU ARE ALSO HEREBY NOTIFIED that Plaintiffs in the Action have reached a proposed settlement of the Action (the "Settlement") that provides for a cash payment of $10,750,000 and various additional corporate benefits for the benefit of the Class as described in the Notice.  If approved, the Settlement will resolve all claims in the Action.    

A settlement hearing will be held on November 24, 2015 at 10:00 a.m. at the Court of Chancery in the New Castle County Courthouse, 500 North King Street, Wilmington, DE 19801, to determine, among other things, (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated September 17, 2015 (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PENDING ACTION AND THE SETTLEMENT.  If you have not yet received the Notice, you may obtain a copy of the Notice by contacting the Settlement Administrator at 888-722-0627.  Copies of the Notice can also be downloaded from the settlement website, www.GFIStockholderLitigation.com.

If you (i) held shares of GFI common stock that were tendered into and cashed out in the BGCP Tender Offer,¹ or (ii) hold shares of GFI common stock that are cashed out in the Back-End Mergers,² you are eligible to receive a payment from the Settlement.  If you are eligible to receive a Settlement payment, you do not have to submit a claim form or take any other action in order to receive your payment.  Your distribution from the Settlement will be paid to you directly in the same manner in which you either (i) received your cash payment from the BGCP Tender Offer, or (ii) receive your cash payment from the Back-End Mergers.   

Any objections to the proposed Settlement, Plan of Allocation, and/or Lead Counsel's application for an award of attorneys' fees and reimbursement of litigation expenses, must be filed with the Register in Chancery and delivered to Representative Lead Counsel and Representative Defendants' Counsel such that they are received no later than November 14, 2015, in accordance with the instructions set forth in the Notice.

PLEASE DO NOT CALL OR WRITE THE COURT OR THE OFFICE OF THE REGISTER IN CHANCERY REGARDING THIS NOTICE.  Inquiries, other than requests for the Notice, may be made to the following Lead Counsel:

¹ The "BGCP Tender Offer" is the tender offer by BGC Partners, Inc. ("BGCP") for shares of GFI common stock that was completed at $6.10 per share on or about February 26, 2015.
² The "Back-End Mergers" are (i) the merger between GFI and BGCP and/or its affiliates, and (ii) the merger between Jersey Partners, Inc. (or its successor in interest) and BGCP and/or its affiliates, as provided for under Section 5.16 of the Tender Offer Agreement dated February 19, 2015 by and among BGCP, BGC Partners L.P., and GFI, to be consummated no later than January 29, 2016.

SOURCE Grant & Eisenhofer P.A.; Kessler Topaz Meltzer & Check, LLP; Bernstein Litowitz Berger & Grossmann LLP

Related Links

http://www.GFIStockholderLitigation.com