Patrick Flannery, the founder and former CEO of market data provider MayStreet, is suing London Stock Exchange Group (LSEG) for fraud and breach of contract following the 2022 acquisition of the vendor, according to court documents reviewed by WatersTechnology. Among the chief complaints in the lawsuit, which was filed in Delaware’s Court of Chancery on May 16, Flannery accuses the exchange group of failing to add any of its existing content to MayStreet’s products by an agreed-upon date, failing to deploy its sales apparatus to sell MayStreet’s products, and failing to spend significant time or resources on the MayStreet integration. The lawsuit also alleges that LSEG acquired MayStreet due to competition fears.
https://www.waterstechnology.com/data-management/7952438/maystreet-founder-sues-lseg-for-fraud-breach-of-contract