An investigation on behalf of current investors in GLG Partners, Inc. (NYSE:GLG) concerning shareholder claims over possible breaches of fiduciary duty by the board of directors of GLG Partners was announced.

The investigation by law firm focuses on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of GLG Partners (GLG) arising out of their attempt to sell GLG Partners, Inc. (NYSE:GLG) to Man Group plc.

GLG Partners, Inc. (GLG), located in New York, is an asset management company. The Company offers a range of investment products and managed account services. GLG Partners, Inc. reported in 2007 Total Revenue of $1.04012billion, in 2008 $494.99million, and in 2009 $300.87million.

On Monday, May 17, 2010, GLG Partners, Inc.(NYSE: GLG) announced that it has agreed to be acquired by Man Group plc. Under the terms of the merger agreement, Man Group plc will acquire the outstanding common stock of GLG Partners, Inc not subject to the share exchange for $4.50 per share through a merger with a wholly owned subsidiary of Man Group plc. Man will acquire all of the common stock of GLG held by the principals and the equity participation plan partnerships in exchange for Man ordinary shares at an exchange ratio of 1.0856 Man shares per GLG share. Based on the closing prices of GLG and Man stock on May 14, 2010, the exchange ratio represents a value of $3.50 per GLG share. The share exchange is subject to a cap on the value of Man shares to be received of $4.25 per GLG share. Finally, pursuant to the terms of the merger agreement, GLG will make a cash offer to purchase all outstanding warrants for $0.129 per warrant, the closing price for the warrants on the NYSE on May 14, 2010. According to GLG Partners, Inc its Board of Directors of GLG has unanimously approved the merger and the $4.50 per share cash consideration to be paid in the merger represents a 55% premium to the closing price of GLG's common stock on May 14, 2010, the last trading day prior to the announcement of the execution of a definitive merger agreement.

Shares of GLG Partners, Inc. (GLG) traded after the announcement at $4.34 per share, and at about $3 per share days before the news. GLG shares were down from its 52weekHigh of $4.61 per share, and over $13 per share in 2008.

The investigation by a law firm concerns whether the GLG Partners, Inc. Board of Directors breached their fiduciary duties to GLG Partners, Inc. (NYSE:GLG) stockholders by failing to adequately shop the Company prior to entering into the agreement, whether the Board of Directors breached their fiduciary duties by not seeking a deal that would provide better value GLG Partners, Inc. (GLG), and whether Man Group plc. is underpaying for GLG Partners (NYSE:GLG), thus unlawfully harming GLG stockholders.