WILMINGTON, DEL. (CN) – Directors of NYMEX Holdings, the world’s largest commodities futures exchange, and the pre-eminent marketplace for energy and precious metals, are cheating shareholders by selling out to CME Group for an unreasonably low $36 per share plus 0.1323 shares of CME stock, according to a class-action complaint in Delaware Chancery Court. The implied value of the Jan. 28 offer, $119 per share, is just a 2.1 percent premium of NYMEX’s closing price of $116.50 that day, shareholders say.
- What Are You Lookin’ At?
- Shareholder Class Action