AFS Secures $95M Settlement After Four-Week Jury Trial, Morning of Closing

On September 21, 2022, after a four week jury trial and on the morning of closing arguments, Douglas Anderson accepted a settlement of $95 million for his claims for wrongful removal as an owner and manager of Simplex, the proprietary trading firm he co-founded.

The defendants in this case were Simplex’s parent company and its two other owners, Paul Mishkin and Mathew Gray. Judge Jerry A. Esrig presided over the trial in the Circuit Court of Cook County.

Mr. Anderson stated, “I am glad I had my day in court and that my rights have been vindicated.”

Mr. Anderson was represented at trial by Frederick J. Sperling, Adam J. Diederich, Kirstie Brenson, and Mallory McMahon of ArentFox Schiff.

Mishkin, Anderson & Gray Securities, LLC v. Douglas F. Anderson, Case No. 2017CH08596.

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