Olde Monmouth Moves To Dismiss DTC Counterclaims

Law360, New York (May 21, 2007, 12:00 AM EDT) -- Stock transfer agent Olde Monmouth Stock Transfer Co. Inc. has asked a court to dismiss Depository Trust & Clearing Corp.’s accusations that it upped its fees to damage and bully the clearing agency.

Olde Monmouth, which fired the first salvo when it accused DTC of enjoying a monopoly in the securities depository industry, filed a motion last Friday to dismiss the counterclaims.

In its filing to the U.S. District Court for the Southern District of New York, the transfer agent said DTC had made its counterclaim...
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