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GFI Group Inc.
GFI Group Inc. Comments on Court Ruling
August 17th, 2008
GFI Group Inc. (NASDAQ:GFIG) confirmed that its application for a preliminary injunction against Tradition Asiel Securities and former employees of GFI has been denied by the Supreme Court of the State New York. In denying the injunction request, the Court reasoned that because GFI's customers did not stop doing credit derivative business with GFI and GFI had filled a number of the credit brokerage positions, GFI was not irreparably harmed. The Court further ruled that the damages GFI sustained due to Tradition's actions are calculable and can be determined in future proceedings. GFI stated that while it is disappointed by the Court's ruling, the Company will vigorously...
Source: Pharma Investments, Ventures & Law Weekly (2008-08-17)
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