CFTC Suit Over Foreign Futures Contracts Reopened

Law360, New York (March 21, 2007, 12:00 AM EDT) -- A court battle over the sale of futures contracts has been reinvigorated, after a failed settlement between the two parties led a district court to reopen the case.

A judge in the U.S. District Court for the Southern District of Florida on Tuesday reinstated a case first filed in 2005 by the Commodities Future Trading Commission against futures broker Madison Forex International.

The case, in which Madison was accused of pressuring customers into purchasing high-risk foreign currency futures contracts that eventually incurred steep losses, was closed...
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