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Replies to post #427123 on Anavex Life Sciences Corp (AVXL)
A biotechnology company accused Citadel Securities LLC, Susquehanna International Group LLP and other Wall Street firms of driving down its stock price through a series of illicit trades.
In a lawsuit filed Thursday in Manhattan federal court, Northwest Biotherapeutics Inc. alleged the market makers had repeatedly engaged in “spoofing,” where traders place orders with an intent to fool other investors about a stock’s demand and manipulate the price.
...also sued are Canaccord Genuity Inc. G1 Execution Services LLC, GTS Securities LLC, Instinet LLC, Lime Trading Corp. and Virtu Americas LLC.
Thirty brokerage firms, including some of the biggest and most trusted names on Wall Street, agreed yesterday to pay about $900 million to end a civil suit contending they schemed with one another for years to fix prices on the Nasdaq stock market.
Lawyers for the plaintiffs in the class-action lawsuit, which represented tens of thousands of investors, called it the biggest settlement ever of a price-fixing lawsuit.
The settlement, also one of the largest in the history of the United States financial markets, is distinctive because most investor complaints about Wall Street cheating have historically focused on theft and fraud, not collusion among competing brokers to fix prices of stocks.
