PENN MONT SECURITIES v. FRUCHER

Civil Action No. 07-CV-5543.

534 F.Supp.2d 538 (2008)

PENN MONT SECURITIES and its partners, Plaintiff, v. Meyer S. FRUCHER, the Philadelphia Stock Exchange, the Philadelphia Stock Exchange Board of Governors, and the National Securities Clearing Corporation, Defendants.

United States District Court, E.D. Pennsylvania.

February 12, 2008.


Attorney(s) appearing for the Case

Lynanne B. Wescott, The Wescott Law Firm PC, Philadelphia, PA, for Plaintiff.

Stephen J. Kastenberg, Ballard Spahr Andrews & Ingersoll, Paul Lantieri, III, Ballard Spahr et, al., Philadelphia, PA, for Defendants.


EXPLANATION AND ORDER

ANITA B. BRODY, District Judge.

I. Background

The Philadelphia Stock Exchange ("PHLX" or the "exchange") is the oldest national securities exchange in the United States. At least as early as 1998, PHLX was negotiating a sale of its assets to another securities exchange, the American Stock Exchange ("AMEX"). This transaction would have generated approximately $100 million for PHLX and its directors...

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