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Sunday, July 14, 2024 | Back issues
Courthouse News Service Courthouse News Service

Shareholders Challenge Sale Of NYMEX

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.

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