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ALTMAN v. NEW YORK BOARD OF TRADE, INC.

52 A.D.3d 396 (2008)

860 N.Y.S.2d 94

HERBERT ALTMAN et al., Appellants, v. NEW YORK BOARD OF TRADE, INC., Respondent, et al., Defendant.

Appellate Division of the Supreme Court of the State of New York, First Department.

Decided June 24, 2008.

Plaintiffs, holders of trading permits on the Board of Trade of the City of New York (NYBOT), brought this action to block a proposed merger between the NYBOT, organized under the New York Not-For-Profit Corporation Law, and the InterContinental Exchange, Inc., a Delaware for-profit corporation. Plaintiffs allege that defendants' actions in connection with the proposed merger would deprive them of their rights as members of the NYBOT to vote on the proposed merger and share...

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