Despite Lawsuit, NYBOT OKs $1.2B ICE Merger

Law360, New York (December 11, 2006, 12:00 AM EST) -- Undeterred by a lawsuit filed by traders, the New York Board of Trade on Monday approved a $1 billion merger with IntercontinentalExchange, an Atlanta-based energy futures exchange.

Angered by their exclusion from the vote on the sale, and arguing that they should profit from the merger, the NYBOT traders filed a suit on Friday.

The complaint, filed by law firm Bernfeld, DeMatteo & Bernfeld, alleges that the merger will cause “irreparable harm” to the traders by transferring the NYBOT to the ICE without compensating the permit...
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