Robbins Geller Rudman & Dowd LLP’s Case Against Stock Exchanges Over High-Frequency Trading Heats Up
The Wall Street Journal reported today on a lawsuit led by attorneys with Robbins Geller Rudman & Dowd LLP, among other firms, claiming the exchanges handed unfair advantages to high-frequency traders to the detriment of regular investors.
The complaint, filed September 2, alleges stock exchanges provided high-frequency firms “enhanced trading information at faster speeds” than other investors received. The exchanges also crafted “complex order types” that gave sophisticated traders advantages, such as the ability to trade in front of other investors to get a better price.
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