NYBOT, ICE Off Hook In Member's Securities Suit

Law360, New York (January 21, 2010, 4:21 PM EST) -- A Delaware judge has quashed a New York Board of Trade member's suit accusing the commodity futures exchange and the company with which it merged, IntercontinentalExchange Inc., of breaching an implied covenant of fair dealing in their collection of members' stock options.

Judge William B. Chandler III of the Court of Chancery of the State of Delaware on Tuesday signed an order dismissing the suit with prejudice after determining that the companies demonstrated good faith in their attempt to accommodate all NYBOT members who missed the...
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