Block & Leviton LLP Investigates NYSE Euronext's Board of Directors for
Possible Breaches of Fiduciary Duty
BOSTON, Dec. 20, 2012
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
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
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.
BLOCK & LEVITON LLP
Mark A. Delaney
SOURCE Block & Leviton LLP
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