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Post# of 648882
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sludgehound

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sludgehound

Re: None

Friday, 06/06/2014 8:25:39 PM

Friday, June 06, 2014 8:25:39 PM

Post# of 648882
lawyer Lewis files HFT suit vs 13 exchanges

Short video at link. Lewis is guy who did the tobacco case.
http://www.cnbc.com/id/101728440

CNBC.com staff 2 Hours Ago

High-profile attorney Michael Lewis filed a class-action lawsuit against 13 stock exchanges over high-frequency trading. The lawyer is of no relation to author Michael Lewis, whose book "Flash Boys" explained high-frequency trading earlier this year.

The case, filed on behalf of Harold Lanier, is filed in U.S. District Court for the Southern District of New York. It charges, among other things, that the exchanges discriminated against some investors by selling "advance access" to market data using private feeds and co-location services.

New York Stock Exchange, BATS Exchange, Nasdaq OMX and Chicago Board Options Exchange declined to comment.

The Guardian first reported the news Friday afternoon.

It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.

~ Thomas Sowell

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