CBOT Holdings, and its subsidiary the Board of Trade of the City of Chicago, have filed a lawsuit against the Chicago Board Options Exchange. The CBOE was to become a shareholder-owned company, but CBOT is seeking to enforce the rights of their full members to participate in the CBOE’s restructuring.
They reqiure an injunction requiring the CBOE to allow the full members of the CBOT who hold an Exercise Right and meet certain other requirements to participate equally in any distribution of CBOE stock.
The lawsuit was filed at the Delaware Court of Chancery. CBOT Holdings, the CBOT and the CBOE are all Delaware corporations.
As well as CBOT Holdings and the CBOT, the plaintiffs include representatives of the class of CBOT full members, and the CBOE’s Board of Directors are also named as defendants.