X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
U.S. District Judge Saundra Brown Armstrong has recused herself from the lawsuit filed by the New York Stock Exchange against the California Judicial Council over new rules for arbitrators, delaying a decision on a motion to throw out the case for at least another few weeks. Armstrong did not give a reason other than to say she had a conflict of interest, said Steven Williams of Cotchett, Pitre, Simon & McCarthy, which represents the Judicial Council in NASD Dispute Resolution Inc. v. Judicial Council of California, 02-3486. The National Association of Securities Dealers and the New York Stock Exchange had sued the council in July to try to block strict new ethical standards that require, among other things, neutral arbitrators to make disclosures about financial relationships or other conflicts of interest between themselves and parties in disputes. The NYSE and the NASD say the new standards are burdensome, and they have stopped appointing arbitrators to hear complaints in California. In August, Cotchett filed a motion to have the suit thrown out, and attorneys expected a decision by this week or next. Instead, Senior Judge Samuel Conti is handling the case, and it’s unclear when he plans to issue a decision on the motion. If he decides that he wants to hear oral arguments, those could be as early as Oct. 25.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.