Law360 (March 31, 2020, 2:53 PM EDT) — A Delaware vice chancellor on Tuesday approved a $22 million settlement, including $5 million in fees awarded to three firms, to end an investor suit over the $1.4 billion sale of high-frequency trading company KCG Holdings Inc. to Virtu Financial Inc. in 2017.
During a settlement hearing held via telephone, Vice Chancellor Kathaleen S. McCormick ruled that the settlement was fair and reasonable and is a significant recovery for former KGC shareholders. The vice chancellor certified the settlement class, which includes those that held KGC stock from Nov. 14, 2016, through July 20, 2017.
The “get and give” set forth under…
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