REG - Tullett Prebon Plc - FINRA Arbitration <Origin Href="QuoteRef">TLPR.L</Origin>

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06/09/2014 14:38

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RNS Number : 9662L
Tullett Prebon PLC
10 July 2014 
 
10 July 2014 
 
Tullett Prebon plc 
 
Outcome of FINRA Arbitration 
 
Tullett Prebon plc (the "Company") announces that the outcome of the FINRA
arbitration on the claims brought by the Company's subsidiary companies in the
United States (the "Subsidiary Companies") which were raided by BGC Partners
Inc. and certain of its subsidiaries in the second half of 2009, along with
various claims asserted against the Subsidiary Companies, has been
determined. 
 
The Arbitrators have determined that BGC and certain of the raided brokers
should pay $33.3m (£19.5m) in compensatory damages to the Subsidiary Companies
on account of the claims against them.  The Arbitrators have also determined
that the Subsidiary Companies should pay $6.1m (£3.5m) in compensatory damages
to a representative of the former equity holders of Chapdelaine Corporate
Securities & Co. which the Company acquired in January 2007 on account of
certain of their claims, and $0.2m (£0.1m) to one of the raided brokers. 
 
The separate action being pursued by the Company and certain of its
subsidiaries against BGC Partners Inc. in the New Jersey Superior Court,
alleging, among other causes of action, violations under the NJ RICO Act, is
currently scheduled to go to trial in the autumn of this year. 
 
Enquiries: 
 
Nigel Szembel 
 
Tullett Prebon plc 
 
nszembel@tullettprebon.com 
 
+44 (0)20 7200 7722 
 
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