We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

NASDAQ Loses Appeal In WorldCom Investor’s Suit

Law360 (September 18, 2007, 12:00 AM EDT) -- A federal appeals court has cleared the way for a WorldCom Inc. investor to move ahead with his securities suit alleging that the NASDAQ stock exchange should be held responsible for the losses he incurred when WorldCom's stock dropped drastically after an accounting scandal rocked the company.

The U.S. Court of Appeals for the Eleventh Circuit upheld on Tuesday a lower court’s denial of NASDAQ’s motion to dismiss the complaint filed by Florida attorney Steven I. Weissman and affirmed that NASDAQ is not entitled to immunity...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.