A class action filed by shareholders in the New York Stock Exchange over its planned merger with IntercontinentalExchange Inc. can go forward in New York alongside a nearly identical, earlier-filed class action in the Delaware Chancery Court, a Manhattan Commercial Division judge has ruled, decisively rejecting the "first filed" theory asserted by the defendants.
Justice Shirley Kornreich’s March 1 ruling in In re NYSE Euronext Shareholders/ICE Litigation, 654496/12, held that the lawsuit, which is centered on one of New York’s "iconic institutions," clearly belongs in New York court.
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