Chicago Board of Trade (CBoT) has called on its full members
to demonstrate their support for the proposed settlement to the
long-running minority members lawsuit
(see FO Week vol 9 nos 3 & 20). With a fairness hearing
scheduled for 10 September, exchange chairman Charlie Carey
warned that a rejection of the settlement could derail CBoT's
restructuring plan for years.
The settlement was intended to resolve the long-running
dispute regarding the division of equity between full and
minority members when the exchange demutualises. The original
suit having been filed by minority members, the remaining
sticking point is the objection to the settlement of an
undisclosed number of full members.
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