In re: Term Commodities Cotton Futures Litig., 12-cv-5126 (S.D.N.Y.)

On July 19, 2022, Plaintiffs submitted a letter to the Honorable Andrew L. Carter Jr. requesting permission to file a motion pursuant to Rule 23(c)(2)(B) that will seek Court approval to send notice to the Class advising them of the pendency of this action and their rights with respect thereto.  The certified Class is defined as:

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 (cmcgrath@lshllp.com).