Law360, New York ( August 31, 2015, 10:52 AM EDT) -- Judge Jesse Furman of the United States District Court for the Southern District of New York on Wednesday, August 26, 2015, dismissed all claims in five consolidated suits against several U.S. stock exchanges and a dark pool operator. The suits alleged violations of federal and state law arising out of defendants' facilitation of high-frequency trading (HFT). The decision[1] is the latest in a string of defeats for plaintiffs who have brought suit in the wake of the publication of Michael Lewis' book "Flash Boys," which portrayed high-frequency trading as a rigged game that enriched Wall Street trading firms at the expense of institutional and retail investors. While the plaintiffs can appeal and one of the plaintiffs may seek leave to amend its complaint, the decision represents a substantial diminution of the risk stock exchanges and dark pool operators face from private litigants for enabling HFT....
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