Shareholders Sue Over Nasdaq's Instinet Deal

Law360, New York (March 20, 2006, 12:00 AM EST) -- Following the successful purchase of electronic securities brokerage Instinet Group Inc. by Nasdaq Stock Market Inc., shareholders of the former firm have filed suit over suspicions they did not benefit sufficiently from the lucrative deal.

The plaintiff funds, which filed suit in Delaware's Court of Chancery say the value of both companies increased so dramatically during the mergers pendency that they should now receive a greater price per share.

Instinet’s investors in the suite include The Merger Fund, GS Master Trust, MSS Merger Arbitrage and Sphinx...
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