Gordon v. New York Stock Exchange

422 U.S. 659, 95 S.Ct. 2598, 45 L.Ed.2d 463 (1975)

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Gordon v. New York Stock Exchange

United States Supreme Court
422 U.S. 659, 95 S.Ct. 2598, 45 L.Ed.2d 463 (1975)

Facts

In 1971, Richard Gordon (plaintiff) brought suit against the New York Stock Exchange (NYSE) and several other exchanges (defendants), arguing that the fixed-rate commissions received by the NYSE and other exchanges violated federal antitrust laws. The district court upheld the fixed-rate commissions, stating that they had been in effect since the Securities Exchange Act of 1934 was enacted. The Second Circuit Court of Appeals affirmed. Gordon then petitioned for certiorari to the United States Supreme Court.

Rule of Law

Issue

Holding and Reasoning (Blackmun, J.)

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Casebooks

Banking Law
Securities Regulation

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