District Court’s Dismissal Of Market Manipulation Claims In Securities Suit Upheld

(October 27, 2017, 2:28 PM EDT) -- PHILADELPHIA — An investor failed to plead actual or presumed reliance in making his market manipulation claims against the Philadelphia Stock Exchange and certain market participants in violation of federal securities laws, and a federal district court did not err in dismissing as a result, a Third Circuit U.S. Court of Appeals panel ruled Oct. 25 in affirming (I. Stephen Rabin v. NASDAQ OMX PHLX LLC, et al., No. 16-2511, 3rd Cir., 2017 U.S. App. LEXIS 21093)....

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