Block & Leviton LLP Investigates NYSE Euronext's Board of
Directors for Possible Breaches of Fiduciary Duty
BOSTON, Dec. 20, 2012 /PRNewswire/ -- Block &
Leviton LLP (blockesq.com), a Boston-based law firm representing investors
nationwide, is investigating possible breaches of fiduciary duty by
the Board of Directors of NYSE Euronext ("Euronext" or the
"Company") (NYSE: NYX) with regard to a proposed sale of the
Company to IntercontinentalExchange, Inc. ("Intercontinental")
(NYSE: ICE) in a stock-and-cash transaction currently valued at
approximately $8.2 billion.
Under the terms of the agreement, Euronext shareholders will
have the option to receive per-share consideration for their
Euronext holdings of (i) $33.12 in
cash, (ii) 0.2581 in Intercontinental common shares, or (iii) a mix
of cash and stock, subject to a maximum aggregate cash
consideration of approximately $2.7
billion (the rest of the consideration requires the Euronext
shareholder to take Intercontinental stock). The Company has
traded in the $30 range as recently
as March 2012.
The investigation is focused on the potential unfairness of the
price to Euronext shareholders and the process by which the
Euronext Board of Directors considered and approved the
transaction. Block & Leviton's investigation seeks to
determine, among other things, whether the members of Euronext's
Board of Directors have breached their fiduciary duty by failing to
maximize shareholder value in the proposed transaction. If
you have any information relevant to this investigation, or if you
have questions about your legal rights, please contact Mark Delaney at 617-398-5650 or email him at
mark@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors
for violations of the securities laws. The firm's lawyers
have collectively been prosecuting securities cases on behalf of
investors for over 50 years.
This notice may constitute attorney advertising.
Contact:
BLOCK & LEVITON LLP
Mark A. Delaney
(617)
398-5650
mark@blockesq.com
SOURCE Block & Leviton LLP