> The cross-market manipulation involves buying and selling stocks at a loss, allegedly for the purpose of moving the prices of corresponding options, so that Avalon could make a profit by trading those options at artificial prices.
> The Court found that the two alleged manipulative trading schemes-if proven-would violate Sections 10(b) and 9(a)(2) of the Exchange Act and Section 17(a)(1) of the Securities Act.
eg: https://www.sec.gov/enforcement-litigation/litigation-releas...
> The cross-market manipulation involves buying and selling stocks at a loss, allegedly for the purpose of moving the prices of corresponding options, so that Avalon could make a profit by trading those options at artificial prices.
> The Court found that the two alleged manipulative trading schemes-if proven-would violate Sections 10(b) and 9(a)(2) of the Exchange Act and Section 17(a)(1) of the Securities Act.
They were also "banging the close," a common illegal practice: https://www.steel-eye.com/news/jane-street-fine-566.3m-marke...