Legal Opinion

Citadel Securities LLC v. U.S. Securities and Exchange Commission

Court of Appeals for the Eleventh Circuit

Decided May 29, 2026No. 25-13631Published

1Opinion of the Court

USCA11 Case: 25-13631 Document: 71-1 Date Filed: 05/29/2026 Page: 1 of 49 FOR PUBLICATION In the United States Court of Appeals For the Eleventh Circuit ____________________ No. 25-13631 ____________________ CITADEL SECURITIES LLC, Petitioner, versus U.S. SECURITIES AND EXCHANGE COMMISSION, Respondent, INVESTORS EXCHANGE, LLC, Intervenor. ____________________ Petition for Review of a Decision of the Securities and Exchange Commission Agency No. SR-IEX-2025-02 ____________________ Before ROSENBAUM, LAGOA, and MARCUS, Circuit Judges. USCA11 Case: 25-13631 Document: 71-1 Date Filed: 05/29/2026…

2Cases cited28 opinions

  1. Access Now, Inc. v. Southwest Airlines Co.Court of Appeals for the Eleventh Circuit · 2004
  2. National Collegiate Athletic Ass'n v. Board of Regents of the University of OklahomaSupreme Court of the United States · 1984
  3. Jacobs v. Tempur-Pedic International, Inc.Court of Appeals for the Eleventh Circuit · 2010
  4. Azar v. Allina Health ServicesSupreme Court of the United States · 2019
  5. Federal Trade Commission v. Procter & Gamble Co.Supreme Court of the United States · 1967

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