SEC Must Decide If Nasdaq Delisting Was Racist: Judge

Law360, New York (January 31, 2012, 8:57 PM EST) -- A New York federal judge on Tuesday tossed a suit filed by CleanTech Innovations Inc. claiming the organization behind Nasdaq delisted the wind energy company for racial reasons, ruling the U.S. Securities and Exchange Commission should hear the dispute.

U.S. District Judge Katherine B. Forrest dismissed an amended complaint against Nasdaq Stock Market LLC and Nasdaq OMX Group Inc. for lack of subject matter jurisdiction.

CleanTech sued the organization after it decided to delist the wind turbine maker following only a month on the exchange. Nasdaq...
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