The U.S. Supreme Court on Tuesday allowed private antitrust lawsuits brought by investors including big U.S. cities accusing major banks of conspiring to manipulate the pivotal Libor benchmark interest rate to move forward.
The U.S. Commodity Futures Trading Commission took a Chicago-based trading firm and its prominent founder to trial on Thursday over claims they manipulated the price of a futures contract, illegally earning nearly $13.5 million.
International Securities Exchange Holdings Inc. lost a second lawsuit over the Chicago Board Options Exchange’s exclusive license to list options based on the Standard & Poor’s 500 and Dow Jones indexes.
Standard & Poor’s, at the first court hearing over the U.S. government’s claims that the rating service defrauded investors, argued reasonable investors wouldn’t have relied on its “puffery” about credit ratings.
While it may seem that court battles over Trading Technologies’ "static ladder" and related patents that once threatened to disrupt futures markets’ cost structure are old news, there are still cases being disputed