Knight Trading Settles One Lawsuit, Another Dismissed

Knight Trading Group (NITE Quote) agreed to settle one lawsuit and said that a second suit against the company had been dismissed.

In a filing with the Securities and Exchange Commission, Knight said the first of the two suits, Prager v. Knight Trading Group, alleged that the company had improperly traded securities for its own account before trading securities for broker/dealer clients. The suit was dismissed last July but appealed in August.

"To avoid the time and expense involved with the appeal, we have reached a mutually agreeable settlement with the plaintiff for an amount, not material to us, and plaintiff has dismissed the appeal with prejudice," Knight said in the filing. ...