In re Stock Exchanges Options Trading Antitrust Litigation
- Case Date: 9/14/2001
- Project Name: Class Action Reform
On January 9, 2003, the U.S. Court of Appeals for the Second Circuit ruled that plaintiffs' attorneys should not be permitted to impose new restraints on the securities industry by bringing antitrust suits against the industry. The decision was a victory for WLF, which filed a brief urging that the antitrust claims be dismissed. The court agreed with WLF that the securities industry is already fully regulated under the Securities Act of 1934 and other securities laws, and that Congress did not intend to permit another layer of regulation that would likely lead to conflicting rules.
More Information and Downloads:
Litigation Update: Court Rules That Antitrust Law Is Inapplicable To Securities Dealers
Press Release: Court Urged Not To Apply Antitrust Law To Securities Dealers