In re Stock Exchange Options Trading Antitrust Litigation
As co-lead counsel, we obtained a recovery of more than $47 million in this case involving allegations of anticompetitive conduct.
On December 14, 2006, the United States District Court for the Southern District of New York approved a settlement of over $47 million (including interest) in In re Stock Exchange Options Trading Antitrust Litigation, 99 CIV. 0962, MDL No. 1283, Master Docket No. M-21-79 (RCC). Labaton Sucharow, which is co-lead class counsel in the case, helped secure this significant recovery on behalf of stock options traders who experienced increased trading costs for trades they executed on major stock exchanges due to the alleged anticompetitive conduct of the defendants - five stock exchanges and twenty-eight of the "market-makers" and specialists involved in the trading of stock options on those stock exchanges. The defendants were alleged to have violated federal antitrust laws by conspiring to restrict the listing and trading of certain stock options contracts to a single stock exchange, thereby restricting competition and increasing the trading costs paid by all persons who bought or sold affected stock options contracts during the relevant time period.