NYSE Cleared In Pension Funds' Fraud Case

Law360 (December 14, 2005, 12:00 AM EST) -- A federal judge dismissed the New York Stock Exchange Tuesday as a defendant in a lawsuit brought by pension funds, ruling that when the exchange is performing duties on behalf of the Securities and Exchange Commission, it is exempt from fraud litigation.

The exchange was sued in December 2003, along with seven major trading firms, for allegedly disregarding activity by trading floor specials who are accused of manipulating stock trades for their own gain and falsifying weekly records.

The case against the trading firms will go...
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