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2nd Circ. Denies Redo For Exchanges In Immunity Fight

Law360 (March 13, 2018, 11:16 PM EDT) -- The Second Circuit said Tuesday it won’t rethink a panel decision from December that found U.S. stock exchanges don’t enjoy absolute immunity from lawsuits, rejecting the exchanges’ attempt to scrap a consolidated group of class actions alleging they misled investors about dealings with high-frequency trading firms.

Seven major exchanges, including Bats Global Markets Inc. and the Nasdaq Stock Market LLC, had urged the panel and full circuit to rehear their immunity defense in January, saying the appellate court’s decision to revive the class actions flies in...
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Case Information

Case Title

In Re:Barclays Liquidity Cross

Case Number



Appellate - 2nd Circuit

Nature of Suit

3850 STATUTES-Secur Comm Exchange

Date Filed

September 29, 2015

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