Subject Matter Jurisdiction

By: Derek Hawkins//December 16, 2015//

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7^th Circuit Court of Appeals

Case Name: Citadel Securities, LLC v. Chicago Board Options Exchange, Inc.

Case No: 14-3071; 14-2912

Officials: BAUER, FLAUM, and MANION, Circuit Judges.

Practice Area: Subject Matter Jurisdiction

Plaintiff’s fail to exhaust administrative remedies in case stemming from alleged improper fee charges.

“Plaintiffs have not clearly shown that the SEC’s administrative procedure is futile or inadequate to prevent irreparable injury. While there is no obvious path to the monetary compensation plaintiffs seek, it is impossible to say whether relief is available since plaintiffs have made no attempt to bring the matter before the SEC. We can envision situations in which reliance on administrative remedies would be clearly futile and SEC review might not be required, but plaintiffs have not convinced us that this is such a case.”

Affirmed

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Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.

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