Monday, May 14, 2007
A class action has been filed against the Chicago Board of Trade's board of directors in connection with the planned merger with Chicago Mercantile Exchange. The suit alleges that the CBOT board breached its fidcuciary duty by not obtaining the highest price. CBOT turned down a higher bid from IntercontinentalExchange. See SIFMA, Lawsuit against Chicago Board of Trade may delay merger.