The truth is in their own statements and filings. Let’s look.
May 28, 2025 PR:
AABB says it developed an “alternative approach” to compile trade and position data.
Jan 13, 2026 PR:
They file a federal lawsuit claiming coordinated manipulation backed by:
Level II data
Trade tape
Time-sequenced analysis
Attorney email (Apr 2026):
Confirms the data is from public sources (Level II + trade tape)
AI used to organize it
“Proprietary software” used to identify patterns
Now compare that to what the defense says:
Motion to Dismiss:
No specific manipulative acts tied to defendants
No timing precision
No causation
No scienter
Relies on jargon and pattern-based conclusions, not facts
Here’s the issue:
Patterns are not proof.
Level II shows quotes.
Trade tape shows prints.
Neither identifies who placed the orders.
Neither proves coordination.
Neither establishes intent.
Yet the lawsuit claims:
Spoofing
Wash trading
Coordinated manipulation
Those require identity, linkage, and intent.
They say they have proof.
Their own filings show they have pattern analysis on public data.
That gap is exactly what gets tested in federal court.
AI
Market Data 
Markets 
