Nasdaq, PureShares and ETFMG Reach Settlement
NEW YORK, May 01, 2020 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ), PureShares LLC, and Exchange Traded Managers Group, LLC (ETFMG) have reached a global settlement that resolves claims in two separate lawsuits pending in the Southern District of New York Federal Court and New Jersey State Superior Court, involving the former PureFunds ETFs. The settlement is subject to future negotiations and approvals among independent third parties.
To date, as part of the settlement, Nasdaq and ETFMG have agreed to certain cash payments from ETFMG to Nasdaq and PureShares, and have executed an asset purchase agreement to transfer certain ETFMG intellectual property and related assets, to a Nasdaq affiliate. The transaction is expected to close in the last half of 2020.About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.Media Contact