In re: Term Commodities Cotton Futures Litig., 12-cv-5126 (S.D.N.Y.)
On July 7, 2022, the United States Court of Appeals for the Second Circuit denied Defendants’ Rule 23(f) petition that sought immediate review of the Honorable Andrew L. Carter Jr.’s February 17, 2022 decision granting Plaintiffs’ Rule 23 motion 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 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 Firm is Lead Counsel for the Class. For further information please contact Chris McGrath (email@example.com).