VIEWS: 42 PAGES: 1 CATEGORY: Business & Economics POSTED ON: 5/30/2010
A decades long battle between former members of the Chicago Board of Trade (CBOT) and the Chicago Board Options Exchange (CBOE) over exercise right privileges (ERPs) again approached its conclusion when CME Group and CBOE announced a settlement agreement on the exercise right lawsuit on August 20. The settlement terms give class members an 18% equity stake and cash payments in the aggregate amount of $300 million to end claims on CBOE membership resulting from CBOT member ERPs. The settlement clears the way for CBOE's demutualization, which would give it the option to go public or entertain a merger.
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