The Firm acted as Co-Lead Counsel for a class of seatholders seeking to enjoin the merger between the New York Stock Exchange and Archipelago Holdings, Inc. Lowey’s representation achieved revised merger terms, providing the seatholders with more than $250 million in additional consideration. The NYSE also agreed to retain an independent financial adviser to report on the fairness of the deal, while Plaintiffs provided their expert’s analysis of the new independent financial adviser’s report, both of which were provided to the seatholders prior to the merger vote.

The Court noted that “these competing presentations provide a fair and balanced view of the proposed merger and present the NYSE Seatholders with an opportunity to exercise their own business judgment with eyes wide open. The presentation of such differing viewpoints ensures transparency and complete disclosure.”

In In re New York Stock Exchange/Archipelago Merger Litigation, (N.Y. Sup. Ct.)