Thank you for sharing!

Your article was successfully shared with the contacts you provided.

By a 7-5 vote, the full 11th U.S. Circuit Court of Appeals has cleared the way for a Florida lawyer to sue the Nasdaq Stock Market for more than $600,000 he says he lost by investing in WorldCom.

Nasdaq and its former parent, the National Association of Securities Dealers, had sought the full court’s help after an 11th Circuit panel voted 2-1 last year to deny the two entities immunity from Steven I. Weissman’s claims. Weissman, a sole practitioner from Hollywood, Fla., claims that Nasdaq’s television and print advertisements fraudulently induced him to buy WorldCom stock by touting the stock’s virtues. The company went bankrupt in 2002 and its former president, Bernard J. Ebbers, is serving a 25-year sentence for fraud and conspiracy.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

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

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.