Plaintiffs' lawyers attack NASDAQ phone deal; they criticize agreement for making tapes of phone calls nondiscoverable
Article Abstract:
A federal district judge is reviewing a consent decree settling charges of a price fixing conspiracy among Wall Street brokerage houses on their activities on the NASDAQ market. The decree specified an agreement by the firms to install systems to tape-record their traders' telephone conversations and report violations to Justice's Antitrust Div. Plaintiffs' lawyers have challenged the decree on various grounds including violation of public policy favoring free access to evidence and procedural rules forbidding settling for third parties not before the court.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
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Broker bets the farm in NASDAQ case; how large is the exposure for Robertson Stephens?
Article Abstract:
Robertson, Stephens & Co. LLC is fighting a suit that it conspired to fix prices of securities traded on the NASDAQ stock exchange and is the only investment firm to opt out of a $100 mil settlement of this litigation. The firm made this move based on the Department of Justice's decision to exclude it from a list of 24 NASDAQ "market makers" guilty of antitrust violations in the July 1996 complaint.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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FTC uses novel theory in lawsuit; others may follow
Article Abstract:
The FTC has filed a lawsuit under section 5 of the Federal Trade Commission Act for an alleged attempt to fix prices by Azle, Texas firm Quality Trailer Products Corp. The suit is based on an 'invitation to collude' made by the Texas firm, and may be followed by other such suits against Raytheon Co. The actions contemplated could not be pursued under the Sherman or Clayton Acts.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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