Broker Settles Swiss 'Flash Crash' Suit Against Ex-Client

Law360, London (November 26, 2019, 5:38 PM GMT) -- An international trading company has settled its U.K. lawsuit against a former client allegedly owed in the wake of the 2015 "flash crash" of the Swiss franc, according to a court order signed by High Court Judge Mark Pelling on Monday.

Interactive Brokers (U.K.) Ltd. reached a confidential deal with former client Jennifer Holzmeister-Hartmannon on Nov. 18 to end litigation over funds allegedly owed under the customer’s trading account.

“By consent it is ordered that all further proceedings in this action be stayed upon the terms set out in a confidential settlement agreement,” the High Court order stated.

The action was...

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