Court Halts Chicago Exchange Suit Pending SEC Ruling

Law360, New York (August 6, 2007, 12:00 AM EDT) -- A court has approved a plea by the Chicago Board Options Exchange to suspend a case brought by rival Chicago Board of Trade until federal regulators decide whether or not CBOT members are entitled to exercise rights following the recent merger with the Chicago Mercantile Exchange.

Friday's order by the Delaware Chancery Court stays a suit brought by CBOT that alleges CBOE's moves to end rights to CBOT members after the merger violated its own charter and breached an agreement with CBOT.

The case stems from...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.