In re: Term Commodities Cotton Futures Litig., 12-cv-5126 (S.D.N.Y.)
On January 8, 2021, Plaintiffs submitted a motion to the Court pursuant to Rule 23 of the Federal Rules of Civil Procedure seeking to certify the following Class:
All persons, corporations and other legal entities that (a) purchased between March 30 and May 6, 2011 a May 2011 Contract in order to liquidate a short position in such contract, including short positions held as part of spread positions; or (b) contracted to purchase cotton on call based on the May 2011 Contract price, and set the price on this contract between March 30 and May 6; or (c) purchased between June 7 and July 7, 2011, a July 2011 Contract in order to liquidate a short position therein, including short positions held as part of spread positions; or (d) contracted to purchase cotton on call based on the July 2011 Contract price, and set the price on this contract between June 7 and July 7, 2011. Excluded from the Class are Defendants, any parent, subsidiary, affiliate, agent or employee of any Defendant, and any co-conspirator.
Plaintiffs’ class certification motion is pending before the Court. Plaintiffs allege that Defendants manipulated the prices of the May 2011 and July 2011 ICE Cotton No. 2 Futures Contract in violation of the Commodity Exchange Act, 7 U.S.C. §1 et seq. (“CEA”) and the Sherman Antitrust Act, 15 U.S.C. §2 et seq. (“Sherman Act”). The Honorable Andrew L. Carter Jr. previously denied Defendants’ motion for summary judgment on September 30, 2020.
The Firm is Lead Counsel for the Class. For further information please contact Chris McGrath (firstname.lastname@example.org).