“Flash Boys,” published March 31 by W.W. Norton, focuses on high-frequency trading in the financial markets and possible market manipulation.
Lewis alleges in the book that the stock market is “rigged” by high frequency traders being able to “front run” orders ahead of other traders. “Flash Guys” also focuses on the creation of IEX, the Investor’s Exchange, aimed at eliminating the advantage of high-frequency trading.
Bloomberg News reported on April 1, the day after publication of “Flash Guys,” that the Federal Bureau of Investgation was investigating whether high-frequency trading firms break U.S. laws by acting on nonpublic information to gain an edge over competitors.
It’s the second Sony deal for a Lewis’ book following “Moneyball,” which the studio acquired in 2004. Brad Pitt starred in and produced “Moneyball,” released in 2011 with Sony-based Rudin exec producing.
Lewis also sold rights to “The Blind Side” to Alcon Entertainment and “The Big Short: Inside The Doomsday Machine” to Paramount with Pitt producing and “Anchorman” director Adam McKay helming.
The news about “Flash Boys” was first reported by Deadline.com.