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Exchanges Can't Kill Revived 'Flash Boys'-Inspired Suits

Law360 (May 28, 2019, 10:48 PM EDT) -- A New York federal judge Tuesday said that a consolidated group of class actions accusing major U.S. stock exchanges of misleading investors about how they catered to high-frequency trading firms have shown enough factual evidence to survive a dismissal bid.

U.S. District Judge Jesse M. Furman said that while the investors may face an "uphill battle" in proving harm, their claims — which were inspired by the Michael Lewis best-seller "Flash Boys" and revived at the Second Circuit — check all the boxes necessary to defeat a dismissal bid from seven major exchanges, including Bats Global Markets Inc. and the Nasdaq...

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New York Southern

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Securities/Commodities

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Date Filed

December 18, 2014

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