Twenty years ago Michael Lewis was the lead attorney in the class action suit against the tobacco companies. He was able to get thirteen tobacco companies to ante up $368.5bn to cover the cost of treating illnesses related to smoking in almost 40 US states. Can he do it again with regards to High Frequency Trading (HFT)? He and 13 other lawyers have filed a suit against 13 stock exchanges and subsidiaries.
Will he be as successful?
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