Westlaw Topical Highlights: Securities, December 26, 2013

December 26, 2013

To match analysis CHINA-IPO/Topical Highlights for Securities provides summaries of significant federal and state judicial decisions and legislative and administrative activities affecting Securities law. A Westlaw subscription is required to access the documents linked from this page.

Exchanges: Owner of stock exchange was not entitled to self-regulated organization (SRO) immunity from investors’ negligence allegations.  In re Facebook, Inc., IPO Securities and Derivative Litigation

2013 WL 6621024, (S.D.N.Y.)  NASDAQ Stock Market LLC, its parent company, and its officers were not entitled to self-regulated organization (SRO) immunity from investors’ negligence allegations arising from the design, testing, and touting of the stock exchange’s software. The investors alleged claims related to the design, testing, and touting of the stock exchange’s software prior to the initial public offering (IPO) of Facebook, Inc. stock. However, the design, testing, and touting of the stock exchange’s software was a non-regulatory activity that served the exchange owner’s private business interests.   2013 WL 6621024(The full-text of the rest of the Topical Highlights are available within Westlaw Next, subscription required).