Lawyers Say NYSE Data Flawed

Law360, New York (March 5, 2008, 12:00 AM EST) -- Lawyers defending specialist traders against allegations that they cheated investors reportedly told a U.S. Securities and Exchange Commission administrative law judge that the New York Stock Exchange's trading data was too flawed to convincingly show improper trading activity.

Robert Katzberg, an attorney for one of the defendants, showed a 12-minute video that revealed 20 instances out of 73 trades where the NYSE reported erroneous data, the Wall Street Journal reported.

The SEC retorted that the trading data was not flawed or miscalculated, and the agency continued...
To view the full article, register now.