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NDAQ » Topics » 3. Dooner v. Philadelphia Stock Exchange, Inc., et al

This excerpt taken from the NDAQ 8-K filed Feb 20, 2008.

3. Dooner v. Philadelphia Stock Exchange, Inc., et al

William and Maureen Dooner, husband and wife, filed suit against the Exchange, among others, on May 28, 2004 in the Court of Common Pleas, Philadelphia County primarily alleging that the Exchange had provided negligent security on its trading floor which resulted in bodily injury and other harm to Mr. Dooner (and a loss of consortium for his wife). Mr. Dooner alleges that he was pulled to the ground, striking his head, by another trader in a trading crowd which action arose out of a disagreement over positioning within a trading crowd. On March 3, 2006, a jury awarded Mr. and Mrs. Dooner a total of $1,935,000 of which the Exchange was held liable for $967,500 (50%). The Exchange is appealing this verdict. Zurich North America has and will fully indemnify the Exchange.

 

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