News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

ETFs

Nasdaq lawsuit over cybersecurity ETF goes to trial

ETF Managers Group is accused of illegally keeping millions of dollars in management fees generated by funds

Nasdaq’s lawsuit accusing a New Jersey company of stealing more than $1bn in exchange traded funds is set to come to trial Monday in New York, in a case that is drawing interest across the ETF industry.

Nasdaq’s civil suit, filed in October 2017 in the US District Court for the Southern District of New York, alleges that ETF Managers Group illegally kept millions of dollars in management fees generated by funds including a popular cybersecurity ETF best known by its ticker HACK.

WSJ Logo