NYSE, ICE Merger Draws Opportunistic Lawsuits

Lawsuits have begun to crystallize around the proposed merger between IntercontinentalExchange Inc (NYSE:ICE) and NYSE Euronext (NYSE:NYX). Two individual lawsuits filed against NYSE Euronext allege that the share price agreed upon for the merger was too low.

The details of the law suits were released earlier today by the Wall Street Journal. The suits were filed by New Jersey Carpenters Pension fund and Samuel Cohen. The short article on the paper’s web site contends that some investors have made an industry out of suing firms in the shadow of mergers.

Because mergers can be severely slowed down...