[T]he Court fully agrees with the analysis of the [merits] in the FACC case and fully adopts that reasoning here.
Late Friday night, July 26th, Judge O’Connor of the Northern District of Texas issued a decision in the Joint Trades lawsuit granting a stay of the Rule’s effective date, agreeing that “Plaintiffs are virtually certain to succeed on the merits.” The stay is not limited to the parties and applies nationwide.
The judge determined that a stay of the effective date provided “complete relief,” and therefore declined to enter a preliminary injunction at this time.