|  | | 2005 News and Press Releases | | |
HEADLINE NEWS:
Motion Against Big Board
The Associated Press
The New York Times. November 9, 2005
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EXCERPT: A group of dissident seat owners on the New York Stock Exchange asked a state court yesterday to postpone a vote by seat owners and shareholders on the exchange's proposed $6 billion acquisition of an electronic rival, Archipelago Holdings.
The 10 dissidents, led by William J. Higgins, filed a motion for a preliminary injunction to postpone the Dec. 6 vote for 30 days. Mr. Higgins requested that Justice Charles E. Ramos of New York State Supreme Court appoint a board to review the merger during that period. Mr. Higgins has maintained that the exchange is paying too much for Archipelago, an electronic trading platform, and is shortchanging the owners of the 1,366 seats. |
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