Market makers

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

By Donald C. Leak
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…

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Donald C. Leak
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