Nasdaq Ordered To Turn Over Docs To PE CEO In Fraud Case

Law360, New York (May 2, 2017, 4:04 PM EDT) -- Nasdaq Inc. has 30 days to comply with a subpoena from private equity CEO Benjamin Wey for potential evidence in his upcoming securities fraud trial after a New York federal judge on Monday knocked back the exchange’s claims of absolute immunity and privilege.

Nasdaq sought to quash a subpoena duces tecum approved by U.S. District Judge Alison J. Nathan in which Wey requested documents related to the listing of three companies on the exchange. Wey is accused of using three U.S. shell companies — Pacific Goldrim Resources Inc., Tag Events Corp. and Everton Capital Corp. — to execute reverse mergers and...

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