Largest Civil Settlement Ordered

Date: November 9, 1998 • Location: East Village, United States

A U.S. federal judge, in the largest civil settlement in American history, orders 37 U.S. brokerage houses to pay US$1.03 billion to cheated NASDAQ investors to compensate for price fixing.

The Nasdaq Stock Market is an American stock exchange. It is the largest stock exchange by market capitalization and the first fully electronic stock market. Based in Manhattan, New York City, the exchange is among the most active stock trading venues by volume in the United States.