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KCG Holdings, Inc. (NYSE:KCG) Investor Lawsuit Against Acquisition Filed

  • If you purchased shares of KCG Holdings, Inc. (NYSE:KCG), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
KCG Holdings, Inc.
Security
NYSE: KCG

Case Name
KCG Holdings Deal Case 05/30/2017
Type of Lawsuit
Mergers and Acquisition
Class Period Begin
Class Period End
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Summary

August 17, 2020 - The case was dismissed due to failure to prosecute.
May 30, 2017 (Shareholders Foundation) - An investor, who currently holds shares of KCG Holdings, Inc. (NYSE:KCG), filed a lawsuit against the proposed takeover of KCG Holdings, Inc. by Virtu Financial, Inc. for $20.00 per share.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:KCG stockholders by agreeing to sell KCG Holdings, Inc. cheaply via an unfair process to Virtu Financial, Inc.

On April 20, 2017, KCG Holdings, Inc. (NYSE:KCG) announced that it has reached a definitive agreement for Virtu Financial, Inc. (NASDAQ: VIRT) to acquire all outstanding shares of KCG's Class A Common Stock for $20.00 per share in cash.

However, plaintiff claims that the proposed consideration NYSE:KCG shareholders will receive is grossly inadequate and undervalues KCG Holdings, Inc. In addition, the plaintiff alleges that the process is also unfair NYSE:KCG stockholders.