Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of GLG Partners, Inc. (“GLG” or the “Company”) (NYSE: GLG) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Man Group plc (“Man”) in a transaction valued at approximately $1.6 billion.

Are you affected?

• Do you own GLG Partners, Inc. common stock?
• Did you purchase your shares before May 16, 2010?
• Do you feel the merger is unfair?
• Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of GLG Partners, Inc. (“GLG” or the “Company”) (NYSE: GLG) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Man Group plc (“Man”) in a transaction valued at approximately $1.6 billion.

The proposed acquisition will be made through two concurrent transactions: Man will acquire the outstanding common stock of GLG for $4.50 per share in cash; and a share exchange under an agreement entered into among GLG’s principals (Noam Gottesman, Pierre Lagrange and Emmanuel Roman, together with their related trusts and affiliated entities) and two limited partnerships that hold shares for the benefit of key personnel who are participants in GLG’s equity participation plan and Man.  Man will acquire all of the common stock of GLG held by the principals and the equity participation plan partnerships in exchange for Man ordinary shares at an exchange ratio of 1.0856 Man shares per GLG share.  Based on the closing prices of GLG and Man stock on May 14, 2010, the exchange ratio represents a value of $3.50 per GLG share.  The share exchange is subject to a cap on the value of Man shares to be received of $4.25 per GLG share.  Finally, pursuant to the terms of the merger agreement, GLG will make a cash offer to purchase all outstanding warrants for $0.129 per warrant, the closing price for the warrants on the NYSE on May 14, 2010.

The investigation concerns whether GLG’s board of directors failed to adequately shop the Company and obtain the best price possible for GLG’s shareholders before entering into the agreement with Man. 

If you own the common stock of GLG and purchased your shares before May 16, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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