Cboe Global Markets, Inc. ("CBOE") is an American company that owns the Chicago Board Options Exchange and the stock exchange operator BATS Global Markets.

Plaintiff's law firm issued a press release on April 5, 2018, announcing the lawsuit.

The Complaint alleges CBOE participated with others to manipulate the VIX “fear gauge” in a systematic manner during the 2004 to 2018 timeframe. This alleged improper manipulation caused economic damages to investors who traded in VIX futures, options and certain other VIX derivatives. As a consequence of these activities, the Complaint alleges that CBOE and a few of its preferred traders violated the Securities Exchange Act of 1934, the Commodity Exchange Act and the Sherman Act.

This case is part of the Multi-District Litigation consolidated under Docket 18-CV-04171 in the Northern District of Illinois. On August 16, 2018, the Court appointed the Plaintiffs' Leadership Counsel. On September 28, Plaintiffs filed a consolidated Complaint. Defendants filed a Motion to Dismiss the consolidated Complaint on November 19. On May 29, 2019, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint.

Plaintiffs filed a consolidated amended Complaint on July 19, 2019. On August 23, Plaintiffs filed a corrected consolidated amended Complaint. Defendants filed a Motion to Dismiss the corrected Complaint on August 28. On January 27, 2020, the Court issued an Order granting Defendants' Motion to Dismiss, dismissing the claims with prejudice. On April 21, the Court entered final judgment.

On May 19, 2020, Plaintiffs filed a notice appealing the Court's Dismissal Order. On July 27, 2022, the Court of Appeals affirmed the District Court's ruling.