The jury found in favor of CME Group.
Retained by Skadden
The plaintiffs, who are holders of CME and CBOT Class B shares, claimed that CME Group violated their contractual trading floor access and proximity rights by opening a data center in Illinois that accommodates high-speed and algorithmic trading.
Counsel for CME Group retained Cornerstone Research to support Pamela Moulton of Cornell University and Andy Richmond of Cornerstone Research.
- Professor Moulton rebutted the plaintiffs’ experts regarding the differences between electronic and open outcry trading and what constitutes a trading floor.
- Mr. Richmond, who testified at trial, analyzed how the equity that the plaintiffs received in demutualization had appreciated over time. He also analyzed the pre- and post- demutualization structure of the CME and CBOT.
The jurors in Cook County Circuit Court found in favor of the CME Group, rejecting the plaintiffs’ request for $2 billion in damages.
Chicago 
