Opinion
17 CIVIL 8252 (PAE)
12-20-2019
NASDAQ, INC., Plaintiff, v. EXCHANGE TRADED MANAGERS GROUP, LLC, and ETF MANAGERS GROUP, LLC, Defendants.
JUDGMENT
It is hereby ORDERED, ADJUDGED AND DECREED: That for the reasons stated in the Court's Opinion and Order dated December 20, 2019, following a 10-day bench trial, the Court holds that Nasdaq has established, in multiple respects, its claims for breach of contract against ETFMG; Nasdaq, however, has not established its claims for breach of duty of good faith and fair dealing, conversion, unfair competition, unjust enrichment, or quantum meruit; the Court also hold that ETFMG has failed to establish any of its counterclaims; the Court further finds that Nasdaq is entitled to an award of the following in compensatory damages: (i) $10,908,711 in retrospective damages, with prejudgment interest of 9% thereon to be measured as of November 1, 2017, in the amount of $2,095,369.12; (ii) $67 million in prospective damages; and (iii) $494,461.36 in damages under the Wholesaling Agreement, with prejudgment interest of 5% over the Federal Reserve rate of 1.5% thereon to be measured as of May 16, 2017, in the amount of $82,593.37 for a total sum of $80,581,134.85; the Court declines to award punitive damages or equitable relief. Dated: New York, New York
December 20, 2019
RUBY J. KRAJICK
Clerk of Court
BY: /s/ _________
Deputy Clerk