A New York federal judge rejected Susqueanna Securities and Susquehanna Investment Group’s request to freeze nearly $100 million linked to traders accused of using insider information before China’s May 22 crackdown on cross-border trading services. Judge Arun Subramanian said the companies had not shown an imminent risk that defendants would conceal or dissipate assets before a potential judgment, or a likelihood of success on their Section 20A and unjust-enrichment claims. The judge also denied an alternative attachment request. Susquehanna sued 100 unnamed defendants on June 29 and later narrowed its preliminary-injunction request to 40. Citadel Securities joined as an intervenor. The court said publicly observable market signals, including unusually high put-option activity, could explain some trades and noted that Susquehanna had not identified the alleged tipper, fiduciary duty or personal benefit involved. An earlier restriction on the funds expired at 5 p.m. ET on Sept. 16.