| Wey v NASDAQ, Inc. |
| 2020 NY Slip Op 06878 [188 AD3d 587] |
| November 19, 2020 |
| Appellate Division, First Department |
| Published by New York State Law Reporting Bureau pursuant to Judiciary Law § 431. |
| Benjamin Wey et al.,
Appellants-Respondents, v NASDAQ, Inc., et al., Respondents-Appellants. |
Lupkin PLLC, New York (Jonathan Daniel Lupkin of counsel), for appellants-respondents.
Gibson, Dunn & Crutcher LLP, Washington, DC (Amir C. Tayrani of the bar of the District of Columbia, admitted pro hac vice, of counsel), for respondents-appellants.
Judgment, Supreme Court, New York County (Andrew Borrok, J.), entered March 4, 2020, dismissing the complaint without prejudice, unanimously modified, on the law, to the extent of making the dismissal with prejudice, and as so modified, affirmed, with costs. Appeals from order, same court and Justice, entered on or about February 11, 2020, unanimously dismissed, without costs, as subsumed in the appeals from the judgment.
Defendant Nasdaq Stock Market LLC is a self-regulatory organization (SRO) (see e.g. United States v Wey, 252 F Supp 3d 237, 244 [SD NY 2017]). Under the circumstances alleged in the complaint, the Nasdaq Stock Market, its parent (defendant Nasdaq, Inc.), and the individual defendants, who are officers and/or employees of Nasdaq and/or the Nasdaq Stock Market, are entitled to absolute immunity (see e.g. D'Alessio v New York Stock Exch., Inc., 258 F3d 93, 104, 106 [2d Cir 2001] [SRO], cert denied 534 US 1066 [2001]; In re Facebook, Inc., IPO Sec. & Derivative Litig., 986 F Supp 2d 428, 438-439, 450 and n 7 [SD NY 2013] [parent]; City of Providence, R.I. v Bats Global Mkts., Inc., 878 F3d 36, 46 [2d Cir 2017] [officers], cert denied 586 US —, 139 S Ct 341 [2018]).
In light of the above disposition, we need not reach plaintiffs' remaining arguments. Concur—Webber, J.P., González, Scarpulla, Shulman, JJ. [Prior Case History: 66 Misc 3d 1222(A), 2020 NY Slip Op 50210(U).]