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

On February 17, 2022, the Honorable Andrew L. Carter Jr. granted Plaintiffs’ Rule 23 class motion and certified 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 (cmcgrath@lshllp.com).