Nymex considers lawsuit against Optionable
The New York Mercantile Exchange (Nymex) may take legal action against Valhalla, NY-based brokerage firm Optionable, the exchange’s chief executive officer James Newsome announced this week.
“We’re continuing to negotiate with the principals, or, if dissatisfied, we will take legal action that will be typical of any harmed shareholder,” he said on Monday. A spokesperson for Nymex declined to comment on the scope and extent of negotiations.
Last Thursday, Kaplan Fox & Kilsheimer, a New York law firm, filed a class action suit on behalf of Optionable's stockholders, after the news broke of Optionable's involvement in massive commodity losses by the Bank of Montreal (BMO).
Nymex paid
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