‘Market Makers’ Manipulated Pfizer Trades, 3rd Circ. Told

By Jeannie O’Sullivan (October 3, 2017, 6:04 p.m. EDT) – An investor who accused certain Philadelphia Stock Exchange investor groups of using a sophisticated trading strategy to deprive other investors of Pfizer Inc.’s dividends. urged the Third Circuit on Tuesday to reinvigorate its securities class action lawsuit, arguing that investors rely on a genuine market free from manipulation.

The alleged conspiracy of “market makers” such as Bedrock Trading Ltd. of making large scripted transactions of Pfizer shares on the eve of purchase deadlines limited the ability of small investors such as I. Stephen Rabin to “skate” or reap windfall dividends, there were enough options left not exercised on…

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
  • Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and more!


Comments are closed.