Justices' Cert Snub Perpetuates Commodities Act Uncertainty

Law360 (June 15, 2020, 6:41 PM EDT) -- The U.S. Supreme Court announced Monday its denial of a petition for a writ of certiorari in Atlantic Trading USA LLC v. BP PLC,[1] which sought the court's review of a U.S. Court of Appeals for the Second Circuit decision that limited the extraterritorial reach of the Commodity Exchange Act.

In Prime International Trading Ltd. v. BP PLC,[2] the Second Circuit found that the plaintiffs' claims under the CEA alleging the defendants' misconduct in the Brent oil market in Europe, which the plaintiffs claim manipulated the price of Brent oil futures traded in the U.S., were too attenuated to state a...

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