US District Court Denies Susquehanna's Motion for Preliminary Injunction in Insider Trading Case

Judge Arun Subramanian of the U.S. District Court for the Southern District of New York denied a motion for a preliminary injunction filed by market makers Susquehanna Securities, LLC and Susquehanna Investment Group. The plaintiffs had sought to freeze assets or obtain an attachment order against 40 defendants accused of insider trading related to a May 2026 announcement regarding a Chinese government crackdown on cross-border trading platforms. The court ruled that the plaintiffs failed to demonstrate the necessity of such relief, including the risk of irreparable harm.