To determine the nature of the recently discovered, ring-like stellar structure at the Galactic anticenter, we have collected spectra of a set of presumed constituent M giants selected from the 2MASS point source catalog. Radial velocities have been obtained for stars spanning ~100 degrees, exhibiting a trend in velocity with Galactic longitude and an estimated dispersion of 20 +/- 4 km/sec. A mean metallicity [Fe/H] = -0.4 +/- 0.3 measured for these stars combines with previous evidence from the literature to suggest a population with a significant metallicity spread. In addition, a curious alignment of at least four globular clusters of lower mean metallicity is noted to be spatially and kinematically consistent with this stellar distribution. We interpret the M giant sample position and velocity variation with Galactic longitude as suggestive of a satellite galaxy currently undergoing tidal disruption in a non-circular, prograde orbit about the Milky Way.
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