Exchanges Defend Bid To Appeal 'Flash Boys' Suit Survival

Law360 (July 11, 2019, 5:31 PM EDT) -- Major U.S. stock exchanges said Wednesday that the survival of litigation accusing them of helping high-frequency traders get an unfair advantage creates legal questions that need to be addressed by an appeals court.

The group of seven exchanges is fighting investors' contention that their suit, inspired by the best-selling 2014 high-frequency trading exposé "Flash Boys," is similar to "virtually any class action" and that its recent survival of a dismissal motion does not merit a Second Circuit review, as appeals that come in the middle of litigation are only granted in special circumstances.

"Plaintiffs argue that certifying the order would 'open the floodgates...

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

Attached Documents

Related

Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Subscribers Only

Date Filed

December 18, 2014

Law Firms

Companies

Government Agencies

Judge Analytics