CHICAGO (Legal Newsline) – An Illinois trading company alleges it was injured because of anticompetitive conduct of a Chicago corporation and others.
Cassandra Trading Group LLC, individually and on behalf of all those similarly situated, filed a complaint on July 25 in the U.S. District Court for the Northern District of Illinois against CBOE Exchange Inc., CBOE Global Markets Inc., CBOE Futures Exchange LLC and John Does alleging violation of the Sherman Act, Clayton Act and the Commodity Exchange Act.
According to the complaint, the plaintiff alleges CBOE intentionally designed products and operated platforms for calculating the Volatility Index (VIX) in a manner that "could be collusively manipulated." The suit states the defendants' alleged manipulation "has caused billions of dollars in losses for other investors" from January 2009 to the present.
The plaintiff holds CBOE Exchange Inc., CBOE Global Markets Inc., CBOE Futures Exchange LLC and John Does responsible because the defendants allegedly conspired to fix prices.
The plaintiff requests a trial by jury and seeks judgment for all damages sustained, award of pre- and post-judgment interest, costs of suit, attorney fees and such other and further relief as the court deems just and proper. It is represented by Douglas A. Millen, Michael J. Freed, Michael E. Moskovitz and Brian M. Hogan of Freed Kanner London & Millen LLC in Bannockburn, Illinois.
U.S. District Court for the Northern District of Illinois case number 1:18-cv-05093