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Patrick Flannery, the founder of MayStreet Inc., has reportedly sued London Stock Exchange Group Plc (LSEG) for fraud and breach of contract.
The lawsuit, which was recently unsealed, alleges that LSEG defrauded MayStreet’s corporate leaders into accepting a deferred-payments deal structure when the financial markets giant acquired the analytics firm in 2022. Flannery claims that LSEG based the transaction on promises it never intended to keep.
LSEG acquired MayStreet, a market data solutions provider specializing in low-latency technology and market data, in May 2022. At the time, the acquisition was seen as a significant move to enhance LSEG’s Enterprise Data Solutions business.

Video courtesy of CSOB

https://www.youtube.com/live/vkFW_m5m7m8?si=hzu5QHV6j954euvR

Video courtesy of CSOB