High Court Hears Oral Argument In Futures Case

Law360, New York (October 29, 2007, 12:00 AM EDT) -- Futures brokers should be able to bring lawsuits against the exchanges on which they trade, a lawyer for Klein & Co. Futures Inc. argued Monday before a seemingly sympathetic U.S. Supreme Court.

Drew S. Days, who is representing Klein in the case, said in oral argument that futures brokers are financially liable from the beginning of a transaction to the end, making them eligible to litigate under the Commodity Exchange Act.

“My client did something,” Days said. “He guaranteed that commodity transaction in accordance with the...
To view the full article, register now.