PIMCO Loses Bid To Decertify Class In Antitrust Action

Law360, New York (July 9, 2009, 12:00 AM EDT) -- A federal appeals court has upheld a lower court's class certification order in a suit accusing Pacific Investment Management Co. LLC of monopolizing a futures market.

The U.S. Court of Appeals for the Seventh Circuit on Tuesday rejected PIMCO's challenge to the certification of a class of plaintiffs who claim the defendants effectively cornered a futures market, a form of monopolization, in violation of the Commodity Exchange Act.

The class certified by the district court includes those who bought a futures contract on the Chicago Board...
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