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| Protecting the Rights of Shareholders and Consumers |
NYFIX, Inc. Securities Litigation
NYFIX, Inc. (NasdaqCM: NYFX) shareholder litigation over alleged unfair takeover
On August 28, 2009, NYFIX, Inc. (“NYFIX” or the “Company”) announced that it agreed to sell the Company to NYSE Euronext, Inc.
(NYSE: NYX). Under the terms of the agreement, NYFIX shareholders will receive $1.675 in cash for each share of NYFIX they own
for a total transaction value of approximately $144 million.
The investigation concerns whether the NYFIX Board of Directors breached their fiduciary duties to NYFIX shareholders given that
(i) the Company's shares traded at over $3.00 per share in the fourth quarter of 2008 and has a 52-week high of $3.75 per share;
and (ii) the NYFIX Board of Directors agreed to a strict "no solicitation" provision and agreed to pay a $5 million termination fee
which will all but ensure that no superior offer will ever be forthcoming.
On August 28, 2009, NYFIX, Inc. (“NYFIX” or the “Company”) announced that it agreed to sell the Company to NYSE Euronext, Inc.
(NYSE: NYX). Under the terms of the agreement, NYFIX shareholders will receive $1.675 in cash for each share of NYFIX they own
for a total transaction value of approximately $144 million.
The investigation concerns whether the NYFIX Board of Directors breached their fiduciary duties to NYFIX shareholders given that
(i) the Company's shares traded at over $3.00 per share in the fourth quarter of 2008 and has a 52-week high of $3.75 per share;
and (ii) the NYFIX Board of Directors agreed to a strict "no solicitation" provision and agreed to pay a $5 million termination fee
which will all but ensure that no superior offer will ever be forthcoming.
