$616M Reuters Deal Bilked FX Alliance Investors, Suit Says

Law360, New York (July 16, 2012, 10:25 PM EDT) -- Electronic foreign exchange platform FX Alliance Inc. was hit with a proposed shareholder class action Friday alleging the company and its board undervalued the company in its $616 million purchase by Thomson Reuters Corp. on July 9.

In a complaint filed in New York state court, Michael Rubin claims the deal, which offered $22 per share for FX stock, is inadequate in light of the company’s strong financial health, accusing the companies’ top executives of greenlighting a deal that would be most lucrative to them when...
To view the full article, register now.