Rehearing Denied; Panel’s Absolute Immunity Ruling In Securities Suit Stands

Mealey's (March 15, 2018, 2:14 PM EDT) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel’s December ruling overturning a lower court’s determination that U.S. stock exchanges are entitled to absolute immunity from shareholder lawsuits will stand after the Second Circuit on March 13 declined to grant the exchanges’ petition for rehearing or rehearing en banc (Providence, R.I., et al. v. BATS Global Markets Inc., et al., No. 15-3057, 2nd Cir.)....