Block & Leviton LLP Investigates NYSE Euronext's Board of Directors for Possible Breaches of Fiduciary Duty

Thu Dec 20, 2012 12:11pm EST

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BOSTON,  Dec. 20, 2012  /PRNewswire/ -- Block & Leviton LLP (blockesq.com), a 
Boston-based law firm representing investors nationwide, is investigating
possible breaches of fiduciary duty by the Board of Directors of NYSE Euronext
("Euronext" or the "Company") (NYSE: NYX) with regard to a proposed sale of the
Company to IntercontinentalExchange, Inc. ("Intercontinental") (NYSE: ICE) in a
stock-and-cash transaction currently valued at approximately  $8.2 billion.   

Under the terms of the agreement, Euronext shareholders will have the option to
receive per-share consideration for their Euronext holdings of (i)  $33.12  in
cash, (ii) 0.2581 in Intercontinental common shares, or (iii) a mix of cash and
stock, subject to a maximum aggregate cash consideration of approximately  $2.7
billion  (the rest of the consideration requires the Euronext shareholder to
take Intercontinental stock).  The Company has traded in the  $30  range as
recently as  March 2012.

The investigation is focused on the potential unfairness of the price to
Euronext shareholders and the process by which the Euronext Board of Directors
considered and approved the transaction. Block & Leviton's investigation seeks
to determine, among other things, whether the members of Euronext's Board of
Directors have breached their fiduciary duty by failing to maximize shareholder
value in the proposed transaction.  If you have any information relevant to this
investigation, or if you have questions about your legal rights, please contact 
Mark Delaney  at 617-398-5650 or email him at  mark@blockesq.com.

Block & Leviton is a  Boston-based law firm representing investors for
violations of the securities laws.  The firm's lawyers have collectively been
prosecuting securities cases on behalf of investors for over 50 years.

This notice may constitute attorney advertising.    

Contact:

BLOCK & LEVITON LLP      
Mark A. Delaney        
(617) 398-5650                    
mark@blockesq.com  

 

SOURCE  Block & Leviton LLP
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