Ginsburg v. Philadelphia Stock Exchange
CASE NUMBER: 2202-CC
PRACTICE AREAS: Securities & Investor Protection
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.
