Trading

Trading Big Law Dreams for Meaningful Work: Associates Embrace Smaller Firms Despite Pay Cuts

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In Chicago, Illinois, the dream of attaining partnership at prestigious law firms is losing its luster for many associates within the legal industry. A growing number of these attorneys are opting to transition to smaller firms, even if it means accepting lower salaries. Kate Reder Sheikh, a partner and recruiter for Major, Lindsey & Africa, highlighted this emerging trend during a discussion with a Bloomberg Law editor. In her insights, she explained that some associates are choosing roles that ignite their passion over the financial rewards typically associated with Big Law partnerships. “The compensation at … Read more

Chicago Jury Finds for Defense in High-Stakes $2 Billion Pit Trading Case

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CHICAGO — A jury in Chicago delivered a significant verdict on Wednesday in a high-stakes trial that involved the contentious practices of pit traders at the Chicago Mercantile Exchange. The jury found in favor of the defendants in a case that sought $2 billion in damages, alleging that the traders engaged in deceptive practices. The case revolved around the actions of a group of options traders who were accused of manipulating the market to their advantage. The plaintiffs comprised a coalition of investors who claimed that these actions resulted in substantial financial losses. The trial … Read more

CME Under Fire: Legal Dispute Erupts Over Electronic Trading Access and Floor Exclusivity

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Chicago, Ill. — Members of the Chicago Mercantile Exchange (CME) have been utilizing electronic trading connectivity tools alongside nonmembers, paying identical access fees for over a decade. This practice has come into focus following the opening of a new data center by the exchange, raising concerns from some members who contend their exclusive rights and contractual agreements may have been compromised. In a recent court hearing in Illinois, legal representatives for CME argued that the exchange’s operations have adhered to established guidelines for many years. By fostering an environment where both members and nonmembers could … Read more

Former NFL Star Jack Brewer Found Guilty of Insider Trading in Landmark Ruling

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A federal judge has determined that former NFL player Jack Brewer engaged in insider trading by selling shares of the company COPsync based on confidential information. This ruling arises amid allegations that Brewer used non-public insights to influence his stock transactions. The case has captured significant attention, particularly due to Brewer’s prominent background as a former professional athlete and his subsequent business ventures. The court found that there was “no genuine dispute” concerning the facts of the case. This conclusion indicates that the evidence was substantial enough to support the allegations against Brewer. During the … Read more