SEC Faces FOIA Suit Over High-Frequency Trading Docs

Law360, New York (September 20, 2012, 5:53 PM EDT) -- A company alleging it has evidence of a high-frequency trading firm's securities fraud scheme sued the U.S. Securities and Exchange Commission in Wisconsin federal court Wednesday after the agency denied its Freedom of Information Act requests for information on the firm.

Wisconsin holding company EMM Holdings LLC said the SEC had wrongfully denied its requests for consumer complaints, no-action letters, interpretive letters and records compiled in any and all investigations of HFT firm Quantlabs LLC, which it claims is involved in a securities fraud scheme tied...
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