Nasdaq Files Lawsuit Over $1.1 Billion Cyber Security Fund

Nasdaq Inc. deepened a fierce battle over a $1.1 billion cyber security fund, suing a former business partner it said stole the exchange-traded fund (ETF) and several others, as well as the millions of dollars of profit they generate annually. In a complaint filed in Manhattan federal court, Nasdaq accused ETF Managers Group LLC and its founder Samuel Masucci of concocting frivolous reasons to take control of the ETFs, including the fund now known as the ETFMG Prime Cyber Security ETF.