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Case Status:    DISMISSED    
On or around 08/27/2020 (Notice of voluntarily dismissal)

Filing Date: April 17, 2020

According to the Complaint, GAIN Capital Holdings, Inc. provides trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities, and global equities.

This action stems from a proposed transaction announced on February 27, 2020, pursuant to which GAIN Capital Holdings, Inc. will be acquired by INTL FCStone Inc.

On February 26, 2020, GAIN Capital’s Board of Directors caused the Company to enter into an agreement and plan of merger with INTL FCStone. Pursuant to the terms of the Merger Agreement, GAIN Capital’s stockholders will receive $6.00 in cash for each share of GAIN Capital common stock they own.

On April 10, 2020, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading. Specifically, the Complaint alleges the Proxy Statement fails to disclose: (i) all line items used to calculate (a) EBITDA (for both the June 2019 and September 2019 Projections), (b) Adjusted EBITDA, and (c) Unlevered Free Cash Flow; and (ii) a reconciliation of all non-GAAP to GAAP metrics.

This case was voluntarily dismissed on August 27, 2020.

COMPANY INFORMATION:

Sector: Financial
Industry: Misc. Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GCAP
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Delaware
DOCKET #: 20-CV-00519
JUDGE: Hon. Maryellen Noreika
DATE FILED: 04/17/2020
CLASS PERIOD START: 02/27/2020
CLASS PERIOD END: 04/17/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available