Special Membership Bulletin
[LETTERHEAD OF MARSHALL N. CARTER]
DATE: NOVEMBER 14, 2005 TO: NYSE MEMBERS
FROM: MARSHALL N. CARTER
SUBJECT: NYSE HEARING DOCUMENTS
Today, court hearings begin in the motion to enjoin the proposed NYSE/Archipelago merger brought by Mr. William Higgins and nine other Member litigants. During the course of this hearing, John Reed, John Thain, and I will all testify.
We will continue to defend vigorously the right of all Members to exercise their right to vote on the NYSE-Archipelago merger. The plaintiffs' claims are meritless and we regret that Members' cash is being used to defend against litigation seeking to deprive you of your right to vote and to delay the merger proceedings.
We have made public additional pre-hearing information, supplementing the depositions posted on nyse.com November 11. You can find the latest information at:
http://www.nyse.com/about/newsevents/1131708984703.html
These links include the briefs of the NYSE, its independent directors and CEO John Thain presenting the factual and legal arguments against the plaintiffs' attempt to stop the merger, as well as affirmations setting forth the facts supporting the arguments in the briefs. The NYSE Board of Directors and management are committed to transparency and disclosure. We again urge Mr. Higgins and the nine other plaintiffs to make public their depositions, briefs, and related information, including engagement letters he and the other plaintiffs have entered into with their attorneys. We will continue to keep you informed of developments in the merger as the hearing proceeds.
