In re Stock Exchanges Options Trading Antitrust Litigation, MDL 1283 (S.D.N.Y.)
KSG serves as a member of the Executive Committee of Plaintiffs’ Counsel for the Class in an antitrust action on behalf of direct purchasers and sellers of one or more Class Option Contracts during the period from January 22, 1990 through April 30, 2003. Plaintiffs allege during this period certain stock exchanges and certain market makers and specialists involved in trading stock options on the exchanges conspired to restrict the listing and trading of certain stock option contracts to a single exchange. Plaintiffs allege that defendants had improperly refused to list and trade each Class Option Contract on more than one exchange at various times during the class period and by so restricting competition, increased the trading costs paid by purchasers and sellers of the Class Option Contracts during the time they had been exclusively sold on a single exchange. A settlement with defendants totaling $43,320,107 was preliminarily approved by the Honorable Richard Conway Casey on February 8, 2006. The settling defendants include the American Stock Exchange, Chicago Board Options Exchange, Pacific Exchange, Philadelphia Stock Exchange and certain market makers and specialists involved in trading options on these exchanges. The hearing on final approval is scheduled on May 22, 2006. A copy of the order preliminarily approving the settlement can be obtained below.
To obtain copies of the Notice of Pendency of Class Action, Proof of Claim and Release, Non-Exhaustive Illustrative List of Class Option Contracts and other documents and information about the settlement, please visit the web site for the Claims Administrator. Select the Cases link and select Options Trading Antitrust Litigation from the list.
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Notes, Links & Related Documents:
Options Preliminary Approval Order
Originally Posted: 02/23/2006