T. ROWE PRICE GROUP, INC. et al v. NEEDLE et al

IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF PENNSYLVANIA
O R D E R
AND NOW, this 16th day of March 2026, upon consideration of Plaintiffs T. Rowe
Price Group, Inc., T. Rowe Price Associates, Inc., and T. Rowe Price Investment Services, Inc.,
(collectively “Plaintiffs”), motion for temporary restraining order and preliminary injunction,
(ECF 5), Defendants’ response in opposition, (ECF 15), the testimony and arguments offered
at the February 5, 2026 hearing, (ECF 33), and the parties’ post-hearing submissions, (ECF 31,
32), it is hereby ORDERED that, for the reasons set forth in the accompanying Memorandum
Opinion, Plaintiffs’ motion is GRANTED. Accordingly, Defendants are hereby ENJOINED
from proceeding with or filing an arbitration proceedings before the Financial Industry
Regulatory Authority and/or from filing any further arbitration pending the resolution of
Plaintiffs’ request for declaratory relief.
BY THE COURT:
/s/ Nitza I. Quiñones Alejandro
NITZA I. QUIÑONES ALEJANDRO
Judge, United States District Court
T. ROWE PRICE GROUP, INC., et
al.,
:
:
CIVIL ACTION
Plaintiffs, :
: NO. 26-0015
v. :
:
MICHAEL R. NEEDLE, et al., :
Defendants. :
Case 2:26-cv-00015-NIQA Document 39 Filed 03/16/26 Page 1 of 1