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Overstock.com Inc. v. Goldman Sachs & Co.

Merrill Lynch Professional Clearing Corp. may be liable for engaging in market manipulation for taking active, direct role in trading schemes of its client.





Cite as

2014 DJDAR 15761

Published

Nov. 25, 2014

Filing Date

Nov. 24, 2014


OVERSTOCK

OVERSTOCK.COM, INC. et al.,

Plaintiffs and Appellants,

v.

GOLDMAN SACHS & CO. et al.,

Defendants and Respondents.

 

No. A135682

(San Francisco City & County

Super. Ct. No. CGC-07-460147)

California Courts of Appeal

First Appellate District

Division One

Filed November 25, 2014

 

ORDER MODIFYING OPINION

[NO CHANGE IN JUDGMENT]

 

THE COURT1:

 

The opinion filed November 13, 2014, is hereby modified as follows:

 

1. The disposition is changed to read as follows:

    

The judgment is affirmed as to Goldman, Sachs & Co., Goldman Sachs Execution & Clearing, L.P., and Merrill Lynch, Pierce Fenner & Smith Inc.  As to Merrill Lynch Professional Clearing Corp., the judgment is reversed as to plaintiffs? California securities law claim under sections 25400, subdivision (b) and 25500, and is affirmed in all other respects.

    

The parties are to bear their own costs on appeal.

 

There is no change in judgment.

 

Dated:  ______

Margulies, Acting P. J.

 

 

 

 

1   Before Margulies, Acting P. J., Dondero, J. and Banke, J.

 

#267160

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