Goldsmith v. Pinez

MEMORANDUM AND ORDER

SARIS, District Judge.

INTRODUCTION

This case arises from a now-familiar set of facts involving alleged insider trading, the relationship between the two defendants, Lehman Brothers, Inc. (“Lehman”) and Emanuel Pinez, the former C.E.O. of Centennial Technologies, Inc, (“Centennial”) and a set of options trades entered into between the plaintiffs and Lehman just before Centennial’s stock dropped dramatically. The plaintiffs, who are “market makers” at the Chicago Board of Options Exchange (“CBOE”), lost nearly $3.7 million as a result of options trades executed by Lehman, on…