Judge Axes Bid To Recoup Short-Swing Profits In Novel Ruling

By Katryna Perera

A New York federal judge has ruled in a matter of first impression that sporting goods company Clarus Corp. cannot recoup $57 million in short-swing profits a trading firm made from a series of transactions because the high-volume trades fit an exemption for market-making activities.

 Opinion attached | Read full article » | Save to favorites »