Cases & Investigations

Ginsburg v. Philadelphia Stock Exchange

CASE NUMBER: 2202-CC
CASE STATUS: Settled
SETTLEMENT AMOUNT: $99 million
COURT: Delaware Chancery Court

Berger & Montague represented a former trader who brought a shareholder class action on behalf of minority shareholders of the Philadelphia Stock Exchange alleging breaches of fiduciary duty by directors of the exchange and the exchange itself. A settlement was reached on the eve of trial, providing for consideration valued at over $99 million to class members and significant changes to corporate governance to prevent the recurrence of the disenfranchisement that occasioned the litigation in the first place.

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Lawrence Deutsch

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