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$NWBO can proceed with claims against seven firms including Citadel Securities for depressing the co’s stock price through false sale orders - federal court ruling. https://t.co/y6vYicqw6D
Northwest Biotherapeutics Inc. can proceed with claims against seven firms including Citadel Securities and Virtu Americas LLC for depressing the company’s stock price through false sale orders, a federal court ruled. https://t.co/ZlZrkzBcIr
Citadel's motion to dismiss denied in NWBO lawsuit! Judge upholds ruling against Citadel & 7 market makers accused of spoofing NWBO stock. Discovery next—bluesheets to be turned over. Full story: https://t.co/HaEjUQ6B7M #NWBO https://t.co/9BFXm4gvVD
A federal court has denied Citadel's motion to dismiss a lawsuit filed by Northwest Biotherapeutics Inc. (NWBO), allowing the company to proceed with claims against Citadel Securities and six other market makers. The lawsuit alleges that these firms engaged in spoofing practices that artificially depressed NWBO's stock price through false sale orders. The court's ruling upholds a previous decision against Citadel and sets the stage for discovery, which will include the turnover of bluesheets. This legal action follows layoffs at the Seattle-based biotech firm in November 2024.
