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Benjamin Wey, et al. v. NASDAQ, Inc., et al.
Paid petition · Appellate Division, Supreme Court of New York, First Judicial Department, No. 2020-01548 · judgment November 19, 2020
Before the decision, well below the 4.1% base rate, with no standout signals pointing toward a grant.
Question presented
Under federal common law, Nasdaq and other selfregulatory organizations (SRO’s) enjoy absolute immunity from suit when exercising their regulatory functions, but they do not have absolute immunity when their conduct is not an exercise of their regulatory functions. Question presented: Does absolute immunity attach to actions taken by Nasdaq consisting of fabricating a non-existent securities rule; knowingly falsely reporting Petitioner’s “violation” of that nonexistent rule to federal law enforcement authorities for prosecution even though the Petitioner was neither a member of Nasdaq nor subject to its jurisdictional reach; and doing so to improperly importune Petitioner’s prosecution and promote its own commercial interests?
Counsel of record
For petitioner
David Henry Tennant
Law Office of David Tennant PLLC
For respondent
Amir Cameron Tayrani
Gibson, Dunn & Crutcher LLP
Case
Conference history
Distributed for 1 conference
Proceedings
- Feb 22 2022Petition DENIED.
- Jan 12 2022DISTRIBUTED for Conference of 2/18/2022.
- Jan 10 2022Waiver of right of respondent NASDAQ, Inc., et al. to respond filed.
- Dec 13 2021Petition for a writ of certiorari filed. (Response due January 14, 2022)