Citadel Securities, Others Beat Biotech Spoofing Suit, For Now

[Gunnar Larson]

Citadel Securities, Others Beat Biotech Spoofing Suit, For Now
<https://www.law360.com/health/articles/1803164?nl_pk=6422bbc2-a823-4be5-9a9f-132770eb1771&utm_source=newsletter&utm_medium=email&utm_campaign=health&utm_content=2024-02-16&read_main=1&nlsidx=0&nlaidx=15>

By Katryna Perera

A New York federal judge has adopted in full a magistrate judge's
recommendation to toss a suit accusing several broker-dealers, including
Citadel Securities LLC and Virtu Americas LLC, of carrying out a spoofing
scheme that repeatedly drove a biotechnology company's share price down,
saying he agrees with the report's finding that the suit fails to show that
the alleged scheme caused lower stock prices in every instance.

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