Depository Trust Evades Antitrust Claims

Law360, New York (April 24, 2007, 12:00 AM EDT) -- A federal judge on Monday dismissed antitrust allegations against clearing agency Depository Trust & Clearing Corp., although the case will be allowed to proceed on tortious interference grounds.

In his order, Judge Charles S. Haight Jr. of the U.S. District Court in Manhattan ruled that stock transfer agent Olde Monmouth Stock Transfer Co. Inc. failed as a matter of law to state a claim for monopolization.

“The complaint alleges that [DTCC subsidiary Depository Trust Co.] enjoys a monopoly over the entire securities depository industry,” Judge Haight...
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