Gov't Goes To Bat For High-Speed Traders In Spoofing Case

By Ed Beeson (October 8, 2014, 7:20 PM EDT) -- The first criminal case against a high-speed trader who allegedly duped the markets with bogus orders shows the U.S. government won't hesitate to take action against market manipulation, even when the victims are probably high-frequency traders themselves.

Last week, federal prosecutors accused Panther Energy Trading LLC and its principal Michael Coscia of spoofing the futures market with enormous buy or sell orders that were canceled almost instantaneously, all in a bid to win illegal profits by manipulating the price of futures contracts.

The case was the first exercise by criminal authorities to crack down on the deceptive trading practices made illegal by...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!