CBOE Settles Voting Rights Battle In Planned IPO

Law360, New York (June 3, 2008, 12:00 AM EDT) -- The Chicago Board Options Exchange has proposed a settlement of its dispute with former Chicago Board of Trade members who have sued to to retain voting rights if the options exchange becomes a public company.

The agreement, if approved, would grant the plaintiffs an 18% equity interest in a CBOE demutualization plus a cash payment of $300 million, according to a memo the CBOE issued to its members Monday.

Under the proposal, the CBOT members would drop their legal claims, pending in the Delaware Court of...
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.