The rulings were made subsequent to a hearing on: a motion to dismiss the Exchange as an additional defendant in the case; and Mr. Capozza's request to schedule a trial in this matter within the next week to 10 days. The Court granted the relief requested by NYMEX and rejected Mr. Capozza's proposed trial schedule as follows:
- The Court agreed that the lawsuit against the Exchange was not authorized by Delaware law and granted the Exchange's motion to dismiss. Nymex Holdings remains the sole defendant in the matter.
- The Court rejected Mr. Capozza'srequest for a trial in a week to 10 days. The Court instead proposed that the parties schedule a one–day trial in mid–February, but did not set a firm trial date. The scope of the trial would be to determine what, if any, books and records Mr. Capozza is entitled to review.
- The Court also noted that Capozza's request for information is over-broad and much of what he seeks will inevitably be satisfied in the final Proxy that NYMEX will file with the Securities and Exchange Commission regarding the proposed General Atlantic transaction.
- In response to Mr. Capozza's request to take various depositions of NYMEX directors and officers, the Court agreed with NYMEX that such depositions were unnecessary and not relevant to whether Mr. Capozza can show a proper purpose in seeking the documents of NYMEX Holdings.
- Finally, in response to the recommendation by NYMEX's legal counsel that NYMEX and Mr. Capozza voluntarily agree to mediate the matter before a member of the Court, the Court strongly urged that NYMEX and Mr. Capozza pursue the mediation process suggested by NYMEX. The Court also proposed that a discovery conference be held within the next week to 10 days to resolve discovery disputes.
