Global Brokerage Inc. (GLBR)

[mdimport]

Derivative stockholder lawsuit targeting Global Brokerage and Drew Niv may be close to its end

February 28, 2019, 11:14 pm UTC

A lawsuit focused on the events from January 15, 2015 and the loan from Leucadia that FXCM Inc’s directors agreed to back then may be close to its end.



"... A lawsuit brought by Brett Kandell, a stockholder of FXCM Inc, now known as Global Brokerage Inc (OTCMKTS:GLBR), may be close to its end, as the parties in the case have reached a settlement. The notice concerning the agreement, which has yet to be approved by the Court, has been published by Global Brokerage.

Under the terms of the settlement, the defendants shall caused to be paid on their behalf $1,550,000 to the broker. That is, the benefits will go to the company and not to the stockholders.

The released claims include, inter alia, all claims related to the events from January 15, 2015, as well as the decision of the Board of Directors of the company to approve the Leucadia loan.

Stockholders who held shares in FXCM Inc (Global Brokerage Inc) as of January 16, 2019 and who continue to hold stock, have the right to object to the proposed settlement. They have the right to be heard at the Settlement Hearing to be held before the Honorable Sam Glasscock III on June 5, 2019, at the Delaware Chancery Court. ..."

https://financefeeds.com/derivative-lawsuit-targeting-global-brokerage-drew-niv-may-close-end/