United States Second Circuit

Dismissal of complaints and denial of motion for preliminary injunction are affirmed where an options exchange, by creating, listing, and facilitating the trading of options on shares in an exchange traded fund designed to track a proprietary market index, does not infringe intellectual property rights of the creator of the index. (Errata)

Appellate Information

• Decided 06/16/2006
• Published 06/20/2006

Judges

• LEVAL, Circuit Judge., Before LEVAL, SOTOMAYOR, Circuit Judges, and KRAVITZ, District Judge.

Court

• United States Second Circuit

Counsel

• For Appellant:
  
• Robert P. Lobue, Patterson Belknap Webb & Tyler LLP (Stuart A. Karle, General Counsel, The Wall Street Journal;  Deborah T. Revesz, Assistant General Counsel, Dow Jones & Company, Inc.;  Adeel A Mangi, Joanne N. Kwong, Patterson Belknap Webb & Tyler LLP, of counsel), New York, NY, for Plaintiff-Appellant Dow Jones & Company, Inc., R. Bruce Rich, Weil, Gotshal & Manges LLP (Irwin H. Warren, Elizabeth S. Weiswasser, Benjamin E. Marks, of counsel), New York, NY, for Plaintiff-Appellant The McGraw-Hill Companies, Inc., Douglass B. Maynard, Akin Gump Strauss Hauer & Feld LLP (Karol A. Kepchar, James J. Benjamin, Jr., Rex S. Heinke, Michael D. Lockard, of counsel), New York, NY, for Amici Curiae The Nasdaq Stock Market, Inc., Wilshire Associates Incorporated, The FTSE International Limited and Barclays Global Investors, N.A., David E. Jacoby, Schiff Hardin LLP (Paul E. Dengel, of counsel), New York, NY;  Michele L. Odorizzi, Mayer Brown Rowe & Maw, Chicago, IL;  for Amici Curiae Chicago Board Options Exchange, Inc., and Board of Trade of the City of Chicago, Inc., Edward F. Maluf, Bingham McCutchen (Nia Cross, Susanna Y.Y. Chu, of counsel), New York, NY, for Amici Curiae Archipelago Holdings, Inc., Pacific Exchange, Inc., Boston Stock Exchange, Inc., and Boston Options Exchange Group, LLC., David M. Battan, General Counsel, Interactive Brokers Group LLC, Washington, D.C., for Amicus Curiae Interactive Brokers Group LLC.


• For Appellees:
  
• Andrew L. Deutsch, DLA Piper Rudnick Gray Cary U.S. LLP (Michael J. Simon, General Counsel, International Securities Exchange, Inc.;  Monica P. McCabe, Christine M. Jaskiewicz, DLA Piper Rudnick Gray Cary U.S. LLP, of counsel), New York, NY, for Defendant-Appellee International Securities Exchange, Inc., Peter J. Toren, Sidley Austin Brown & Wood LLP (Tracey Russell Seraydarian, of counsel), New York, NY, for Defendant-Appellee The Options Clearing Corporation.