A settlement worth in the $70 million to $90 million range in the complex lawsuit Ginsburg v. Philadelphia Stock Exchange Inc. was approved by Delaware's Court of Chancery last week. In the action, a group of shareholders in the exchange claimed that members of its board of governors had breached their fiduciary duties when they negotiated "strategic alliances" with six Wall Street investment firms that left the firms owning about 90 percent of the exchange, according to the amended complaint.
October 29, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A settlement in the complex lawsuit Ginsburg v. Philadelphia Stock Exchange Inc. was approved by Chancellor William B. Chandler of Delaware’s Court of Chancery on Oct. 22.
The agreement, worth in the $70 million to $90 million range, was submitted to the Chancery Court for approval on Sept. 4.
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