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NEW YORK (AP) - The New York Stock Exchange must turn over documents and analyses related to its pending acquisition of Archipelago Holdings Inc. to three seat holders who are suing to block the deal, a state judge ruled Wednesday.
Lawyers for seat holder William Higgins, a longtime critic of the exchange, successfully argued in a hearing that as an owner of a seat, which represents a stake in the exchange, he should be able to examine the documents the NYSE's board of directors used in voting to approve the merger.
Though the exchange promised to release some of the details in a regulatory filing by July 22, State Supreme Court Judge Charles Ramos noted that with proxies due to be mailed in October and a possible seat holder vote as early as November, materials should be released to seat owners quickly.
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