Schneiderman Gets NY Supreme Court Green Light on Barclays Lawsuit
Attorney General is accusing Barclays of paying for faster access to market data to get an advantage for its dark pool customers
Schneiderman says that Barclays used a paid-for speed advantage to get better prices for customers and used its knowledge of prices in slower data feeds to maximize its profits.
Barclays had asked the court to throw out the case, arguing the state had not shown its clients were harmed, but Justice Shirley Werner Kornreich of the State Supreme Court in Manhattan said it was premature to dismiss Schneiderman's claim.
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