A federal judge on Monday dismissed an antitrust lawsuit by investors who accuse...
- A federal judge on Monday dismissed an antitrust lawsuit by investors who accused the parent of the Chicago Board Options Exchange of letting anonymous traders rig the “fear gauge,” Wall Street’s main gauge of future stock market volatility, at their expense.
U.S. District Judge Manish Shah in Chicago found no proof that Cboe Global Markets Inc intended to defraud investors by letting the “John Doe” traders manipulate options and futures tied to the fear gauge, known as the VIX, to generate higher transaction fees. “The more compelling inference here is that Cboe pursued a profit motive by making the VIX replicable,” helping liquidity providers offset risk, “and any manipulation that occurred was unintentional or negligent ,” Shah wrote.
Shah dismissed a version of the proposed class action last May, but gave the investors another chance to pursue federal securities and commodities law claims.The VIX measures expected 30-day volatility for U.S. stocks based on Standard & Poor’s 500 options, and often rises when stock prices fall.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street tumbles as virus fears hit travel, growth stocksU.S. stocks fell more than 1% as investors worried about the economic fallout of the fast-spreading coronavirus outbreak in China
Read more »
Coronavirus fears send stocks lower—what Cramer and other Wall Street pros are watchingWorries around China's coronavirus outbreak pushed the major averages lower on Monday as market commentators gauged its overall impact on stocks.
Read more »
Ohio judge uses a hunch to call ICE on undocumented defendants: 'Haven't got one wrong yet'A common pleas judge in Ohio has said that when he suspects a defendant is undocumented, he calls Immigration and Customs Enforcement himself.
Read more »
Tamra Judge Unfollows RHOC Cast Members, Bravo and Even Andy Cohen After Announcing DepartureThe move comes after Judge announced her departure from 'The Real Housewives of Orange County' after 12 years, which in itself came on the heels of Vicki Gunvalson quitting.
Read more »
A Colorado high school student wrote a worrisome message on a restroom wall. Classmates are responding with a growing display of support.An anonymous cry for help scribbled on a bathroom wall inspired a flurry of encouraging messages in a Denver high school. Now the responses have spread from that wall to the internet as students seek out ways to support each other.
Read more »
Coronavirus fears send stocks lower—what Cramer and other Wall Street pros are watchingWorries around China's coronavirus outbreak pushed the major averages lower on Monday as market commentators gauged its overall impact on stocks.
Read more »