September 25, 2007

Fulton County Daily Report Quotes Tod Sawicki on Nasdaq's Limited Immunity

Tod Sawicki was quoted in a September 25 Fulton County Daily Report article titled “11th Circuit Limits Nasdaq's Immunity.” The article discusses the 11th U.S. Circuit Court of Appeals’ decision that allows a Florida lawyer to sue the Nasdaq Stock Market for more than $600,000 he says he lost by investing in WorldCom. Tod said the claim was more intellectually interesting than practically significant. He noted that while brokers and brokerage firms had sued SROs over regulatory decisions, an investor suing the regulators was unique and, "I wouldn't expect we'd see many of these even in the aftermath of this decision."
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