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Chicago Exchange Manipulating VIX For Profit, Suit Says

Law360 (March 21, 2018, 6:42 PM EDT) -- A putative class of investors slapped the Chicago Board Options Exchange with a lawsuit in Illinois federal court Tuesday, saying it is colluding with certain unknown companies to “generate massive profits” by manipulating its Volatility Index and influencing the securities that are traded based on it.

The antitrust action spearheaded by Jeffery Tomasulo says a “select group of financial institutions and trading firms” are working together to post offers or bids, or enter into contracts, on certain Standard & Poor 500 options during a“ fixed, short...
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