Morgan Stanley, Barclays Duck Appeal Over VIX Manipulation Claim

Morgan Stanley & Co. LLC, Barclays Capital Inc., and others rightly won dismissal of two lawsuits claiming they manipulated the VIX index leading to hundreds of millions of dollars in losses in 2018, a federal appeals court ruled Thursday.

Claims by the first plaintiff, Two Roads Shared Trust, are time-barred under the Commodity Exchange Act’s two-year statute of limitations, Judge John Z. Lee said for the US Court of Appeals for the Seventh Circuit, affirming the lower court’s dismissal of the suits. The second plaintiff, LJM Partners Ltd., failed to adequately allege an injury in fact to support ...