PLATINUM PARTNERS VALUE v. CHICAGO BD.

No. 1-11-2903.

976 N.E.2d 415 (2012)

364 Ill. Dec. 137

PLATINUM PARTNERS VALUE ARBITRAGE FUND, LIMITED PARTNERSHIP, Plaintiff-Appellant, v. CHICAGO BOARD OPTIONS EXCHANGE, Options Clearing Corporation, and John Doe Defendants 1 Through 10, Defendants-Appellees.

Appellate Court of Illinois, First District, Sixth Division.

August 10, 2012.


Attorney(s) appearing for the Case

Marvin A. Miller and Matthew E. Van Tine , Miller Law LLC, Chicago, and Sanford P. Dumain, Todd Kammerman , and Jennifer J. Sosa , Milberg LLP, New York, New York, for appellant.

Paul E. Greenwalt and Michelle A. Silverthorn , Schiff Hardin LLP, Chicago, for appellee Chicago Board Options Exchange.

William J. Nissen and David M. Baron , Sidley Austin LLP, Chicago, for appellee Options Clearing Corporation.


OPINION

Presiding Justice GORDON delivered the judgment of the court, with opinion.

¶ 1 In this case, we must determine whether a self-regulating options organization has absolute immunity from suit when it is claimed that it wrongfully provided inside information to a select number of traders.

¶ 2 Plaintiff Platinum Partners Value Arbitrage Fund, L.P., sued defendants the Chicago Board Options Exchange (CBOE), the Options Clearing Corporation...

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