'Infuriated' GAM investor group hits back at Liontrust in emotional open letter to shareholders

NewGAMe responds to 'misleading' claims

Investor group NewGAMe has published an open letter to GAM’s shareholders, responding to Liontrust’s questioning of the legality of the its offer, and some of GAM’s own claims made on Monday (24 July).

The letter, signed by Albert Saporta as the director of NewGAMe, comes after GAM posted a statement earlier today (26 July), stating it stood by its communication over the deal with Liontrust and urging shareholders to accept. In the latest development of the ongoing spat between the group of investors, which controls approximately 9.6% of the issued share capital of GAM, and the asset managers, NewGAMe said "serious governance questions" had been raised. GAM pushes back against shareholder inaccuracy claims The group previously made its own partial cash tender offer, which Liontru...