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The Philadelphia Stock Exchange (PHLX) announced today that all parties have reached an agreement in principle to resolve the litigation, Ginsburg v. Philadelphia Stock Exchange, et al
, an action that was brought against the Exchange and its strategic investors. The settlement is subject to final negotiation and approval of the Delaware Court of Chancery.PHLX Chairman and CEO Meyer “Sandy” Frucher said, “With this settlement behind us, the Exchange will continue to vigorously pursue its strategic plan and build on its ongoing growth in the options market."
All terms of the settlement will remain confidential.
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades 7,000 stocks, 2,520 equity options, 17 sectors index options, and currency options and futures. For more information about the PHLX and its products, visit www.phlx.com.
