Year: 2010

THIS WEEK IN SECURITIES LITIGATION (November 12, 2010)

The SEC approved new rules sought by the exchanges which effectively bar market makers from using “stub quotes,” a kind of quote which is not intended to be executed. That type of quote was involved in the flash crash. SEC

A FINANCIAL FRAUD ACTION CENTERED ON A FICTITIOUS CUSTOMER

The SEC filed an amended complaint, adding Jon Latorella and James Fields as defendants to an action alleging a financial fraud and stock manipulation involving two companies they control. SEC v. LocatePlus Holdings Company, Case No. 1:10-cv-11751 (D. Mass. Nov.

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