We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Former Seatholder Lodges Suit Against NYSE

Law360 (March 6, 2006, 12:00 AM EST) -- As the looming merger between the New York Stock Exchange and the electronic trading firm Archipelago Holdings Inc. comes closer to completion, a second former seatholder has sued the Exchange, claiming it should have notified her about the upcoming deal when she sold her seat last year.

In March 2005, Janet Hyman sold her membership on the NYSE for $1.5 million while the Exchange discreetly arranged the deal to acquire Archipelago. Seat prices went up dramatically after the merger was announced in April 2005, rising to...
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.