GLG Hit With Suits Over $1.6B Man Group Deal

Law360, New York (May 25, 2010, 5:33 PM EDT) -- GLG Partners LP is facing several lawsuits over its plans to be acquired by Man Group PLC in a $1.6 billion cash-and-stock transaction from shareholders who claim the terms of the deal are preferential to the British investment management company but detrimental to proposed classes of GLG stockholders.

In one proposed class action lawsuit, filed Monday in the Delaware Chancery Court, shareholder Ron Duva alleged that the timing of the deal has been engineered to take advantage of a recent decline in the trading price of...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.