We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Judge Throws Shareholder Suit In eSpeed Securities Action

Law360 (April 6, 2006, 12:00 AM EDT) -- A shareholder lawsuit against eSpeed Inc., an electronic trading unit of Cantor Fitzgerald & Co., has been tossed by a federal judge, who ruled this week that the shareholders’ claims that executives misrepresented the success of one of the company’s discontinued pricing programs lacked factual basis.

U.S. District Judge Shira A. Scheindlin said in papers filed earlier this week that she harbors "grave doubts" as to whether the shareholders would be able to allege sufficient facts to survive a motion to dismiss, but she did grant...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.