Exchange Insists Bank Conspiracy Suit Can Survive Changes

Law360 (May 5, 2020, 5:22 PM EDT) -- A small trading exchange accusing major banks of conspiring to shut it out of the credit default swap market is defending recent fixes to its lawsuit after the financial institutions said inaccuracies the platform dropped from the original complaint torpedo the case.

Tera Group Inc., which operates the 10-year-old TeraExchange platform, argued Monday that the revisions don't undermine its core case. At most, Tera said, the amendments "alter the precise way that these isolated aspects of the broader conspiracy initially were alleged but not the fact that the conspiracy allegations remain plausibly pled."

The exchange contends a slew of top banks...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!