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Berger & Montague, P.C.
Berger & Montague, P.C. Announces Approval of Settlement Allocation Plan of $99 Million in Case Against PHLX and Six Major Investment Firms on Behalf of Class a Shareholders
July 27th, 2008
Berger & Montague, P.C. on behalf of the former Class A shareholders of the PHLX announces that the Delaware Chancery Court has approved its plan of allocation of the settlement proceeds in the case of Ginsburg v. Philadelphia Stock Exchange, et al. Based upon the pending acquisition of the PHLX by NASDAQ, the settlement proceeds to be distributed are now valued at $99 million or more. Chancellor William Chandler's ruling on July 2, 2008 adopted Class Counsel's proposed allocation plan over five objections filed in response to the allocation plan. The Court ruling also awarded attorneys' fees of $16 million plus fees to the class plaintiff and two class members for service to the Class....
Source: Pharma Investments, Ventures & Law Weekly (2008-07-27)
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