Nasdaq Avoids Dismissal of Trade Secrets Suit Against Rival MIAX

Exchange operator Miami International Holdings Inc. must face a lawsuit claiming it used trade secrets taken by former Nasdaq Inc. employees to create MIAX’s trading platforms and obtain a patent.

The claims aren’t barred by the statute of limitations because the publication of Miami International’s patent application didn’t start the countdown to bring a lawsuit, the US District Court for the District of New Jersey said Tuesday. Judge Zahid N. Quraishi noted that courts in the Third Circuit are split as to the effect of a patent publication, and said the court may need to revisit the issue if discovery ...