Judge Tosses Suit Challenging NASD-NYSE Deal

Law360, New York (May 3, 2007, 12:00 AM EDT) -- A federal judge has thrown out a purported class action that attempted to block the proposed regulatory merger between the National Association of Securities Dealers Inc. and NYSE Group Inc.

California-based securities firm Standard Investment Chartered Inc. brought the suit in March, challenging the move by the NYSD and the NYSE to consolidate their member-regulation functions into one self-regulatory organization.

But Honorable Shirley W. Kram of the U.S. District Court for the Southern District of Manhattan dismissed the suit late Wednesday, finding that Standard Investment had...
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