Biotech Company Suing Citadel Over Market Manipulation
Biotech company Northwest Biotherapeutics is suing Citadel and other market makers for allegedly manipulating its stock price. The company is accusing Citadel Securities LLC, Susquehanna, Virtu, and other Wall Street firms of driving its stock price down…
Virtu is Suing the SEC Over Records Request
Virtu Financial Inc is suing the SEC, alleging on Tuesday its primary regulator had not responded to a public records request. Virtu, a market maker with a large equities business, said it submitted a Freedom of Information Act (FOIA) request in June to…
Citadel Paid SEC $22.6 Million to Settle Charges of Misleading Conduct
In 2017, Citadel paid the SEC $22.6 million to settle charges that it misled customers about the way it priced trades. The SEC found that between 2007 and 2010, Citadel used two algorithms to execute stock trades on customers’ behalf that gave investors…
Citadel Loses Court Case to IEX Order Type
BREAKING: Citadel Securities just lost the court case to the IEX order type. The ruling is a notable victory for IEX and a blow to Citadel Securities, which profits from small differences between the bid and ask prices in a trade. (Bloomberg)—Citadel…
Ken Griffin Spent $54 Million to Fight a Tax Increase on The Rich
Citadel’s Ken Griffin spent $54 million to fight a tax increase on the rich that would raise the rate from 5% to 8% according to ProPublica. This increase would have cost $51 million every year in extra tax. In especially good years — in 2018,…