Crain’s – Platinum Partners Value Arbitrage Fund LP, a New York hedge fund, is suing the Chicago Board Options Exchange and Options Clearing Corp. over an alleged $10-million loss from trading in India Fund Inc. options.
Platinum, whose chairman and chief investment officer is Mark Nordlicht, claims in the lawsuit that its losses derived from a faulty option strike-price adjustment and selective market dissemination of that information. Chicago-based CBOE Holdings Inc., parent of the exchange, and OCC declined to comment on the pending litigation.
