High Court Won't Weigh Case Against NYSE

Law360, New York (March 24, 2008, 12:00 AM EDT) -- An appeals court decision granting the New York Stock Exchange immunity from certain allegations made by the California Public Employees' Retirement System will stand, after the U.S. Supreme Court refused to hear the case.

The Supreme Court declined the case on Monday. The justices will not determine whether pension funds' claims that NYSE failed to properly regulate specialized trading firms should be reinstated. The U.S. Court of Appeals for the Second Circuit tossed the allegations last September, allowing part of the lawsuit to proceed, but ruling...
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