Gain Capital shareholder Springhouse warns Board
Gain Capital shareholder Springhouse warns Board explained by professional Forex trading experts the “Gain Capital shareholder Springhouse warns Board ” FX trading team.
Gain Capital shareholder Springhouse warns Board
In a very strongly worded letter to Gain’s Board of Directors, Springhouse Capital urged that the Gain Board work to maximize value by pursuing a sale of the company — by shopping it around to other potential buyers, and/or by trying to drag a better offer out of FXCM.
Springhouse Capital is a private hedge fund, run by value investor Brian Gaines. Springhouse owns about 2% of Gain Capital stock, a position it has held from soon after Gain’s IPO in late 2010 until today — meaning that Springhouse has suffered a large loss on its investment in Gain.
The full contents of the Springhouse letter can be seen below, but first we’ll summarize some of the very strongly worded points they make — including a veiled threat to take legal action against the Board “in the event the Board elects to reject FXCM’s proposal and any other strategic interest”.
It seems as though Springhouse is not enamored with Gain’s decision to fight FXCM using a ‘poison pill defense’, such as the Shareholder Rights Plan announced by Gain Capital soon after FXCM’s offer was made earlier this month.
Gain Capital shareholder Springhouse warns Board Conclusion
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