Citadel Securities Says CBOE Overcharged Trading Fees

Law360, New York (May 22, 2013, 10:17 PM EDT) -- The Chicago Board Options Exchange Inc. and four other exchanges were hit with a lawsuit Wednesday by investment companies including Citadel Securities LLC accusing the exchanges of brazenly admitting they had mischarged them fees on trading orders but then deflecting liability for it.

In a complaint filed in Illinois state court, Citadel and others targeted the CBOE, the International Securities Exchange LLC, as well as two units of NYSE Euronext and an exchange run by the Nasdaq OMX Group Inc. The suit claims the exchanges have...
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