Silver v. New York Stock Exchange | |
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Argued February 25–26, 1963 Decided May 20, 1963 | |
Full case name | Silver, doing business as Municipal Securities Co., et al. v. New York Stock Exchange |
Citations | 373 U.S. 341 (more) 83 S. Ct. 1246; 10 L. Ed. 2d 389; 1963 U.S. LEXIS 2628 |
Holding | |
The duty of self-regulation imposed upon the Exchange by the Securities Exchange Act of 1934 did not exempt it from the antitrust laws nor justify it in denying petitioners the direct-wire connections without the notice and hearing which they requested. Therefore, the Exchange's action in this case violated 1 of the Sherman Act, and the Exchange is liable to petitioners under 4 and 16 of the Clayton Act. | |
Court membership | |
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Case opinions | |
Majority | Goldberg |
Concurrence | Clark |
Dissent | Stewart, joined by Harlan |
Laws applied | |
Sherman Antitrust Act of 1890; Clayton Antitrust Act of 1914; Securities Exchange Act of 1934 |
Silver v. New York Stock Exchange, 373 U.S. 341 (1963), was a case of the United States Supreme Court which was decided May 20, 1963.[1] It held that the duty of self-regulation imposed upon the New York Stock Exchange by the Securities Exchange Act of 1934 did not exempt it from the antitrust laws nor justify it in denying petitioners the direct-wire connections without the notice and hearing which they requested. Therefore, the Exchange's action in this case violated 1 of the Sherman Antitrust Act, and the NYSE is liable to petitioners under 4 and 16 of the Clayton Act.
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