National Stock Exchanges To Settle Class Action For $43M

Law360, New York (March 16, 2006, 12:00 AM EST) -- A long-running class action antitrust case concerning the listing of options for trading on national exchanges is slated to settle for more than $43 million.

The action, which consolidated twenty-one federal suits, has been ongoing since 1999 in the U.S. District Court in the Southern District of New York.

The case concerns allegations that an agreement among security exchanges and twenty-eight specialists regarding industry practices had anti-competitive effects.

The agreement at issue involved a decision by five national securities exchanges that they would not list the...
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