Pearl Securities LLC v. Knight Equity Markets, L.P.

*390Order, Supreme Court, New York County (Richard B. Lowe, III, J.), entered August 16, 2005, which granted defendant’s motion to dismiss, unanimously reversed, on the law, with costs, the motion to dismiss denied and the complaint reinstated.

In this declaratory judgment action, plaintiff Pearl Securities LLC alleges that in some 45 transactions in November and December 2004 it purchased millions of shares of stock in 10 publicly traded corporations through its broker, nonparty vFinance Investments, Inc.; that because each transaction settled on a “cash” or “same-day” basis on the day each was…