Opinion
12449 12449A 12449B Index No. 651684/18 Case No. 2020-01548
11-19-2020
Benjamin WEY et al., Plaintiffs–Appellants–Respondents, v. NASDAQ, INC., et al., Defendants–Respondents–Appellants.
Lupkin PLLC, New York (Jonathan Daniel Lupkin of counsel), for appellants-respondents. Gibson, Dunn & Crutcher LLP, Washington, DC (Amir C. Tayrani of the bar of the District of Columbia, admitted pro hac vice, of counsel), for respondents-appellants.
Lupkin PLLC, New York (Jonathan Daniel Lupkin of counsel), for appellants-respondents.
Gibson, Dunn & Crutcher LLP, Washington, DC (Amir C. Tayrani of the bar of the District of Columbia, admitted pro hac vice, of counsel), for respondents-appellants.
Webber, J.P., Gonza´lez, Scarpulla, Shulman, JJ.
Judgment, Supreme Court, New York County (Andrew Borrok, J.), entered March 4, 2020, dismissing the complaint without prejudice, unanimously modified, on the law, to the extent of making the dismissal with prejudice, and as so modified, affirmed, with costs. Appeals from order, same court and Justice, entered on or about February 11, 2020, unanimously dismissed, without costs, as subsumed in the appeals from the judgment.
Defendant Nasdaq Stock Market LLC is a self-regulatory organization (SRO) (see e.g. United States v. Wey, 252 F. Supp. 3d 237, 244 [S.D. N.Y. 2017] ). Under the circumstances alleged in the complaint, the Nasdaq Stock Market, its parent (defendant Nasdaq, Inc.), and the individual defendants, who are officers and/or employees of Nasdaq and/or the Nasdaq Stock Market, are entitled to absolute immunity (see e.g. D'Alessio v. New York Stock Exch., Inc., 258 F.3d 93, 104 & 106 [2d Cir.2001] [SRO], cert denied 534 U.S. 1066, 122 S.Ct. 666, 151 L.Ed.2d 580 [2001] ; In re Facebook, Inc., IPO Sec. & Derivative Litig., 986 F Supp 2d 428, 438–439, 450 & n. 7 [S.D. N.Y.2013] [parent]; City of Providence, R.I. v. Bats Global Mkts., Inc., 878 F.3d 36, 46 [2d Cir.2017] [officers], cert denied –––U.S. ––––, 139 S Ct 341, 202 L.Ed.2d 255 [2018] ).
In light of the above disposition, we need not reach plaintiffs' remaining arguments.