Louis Dreyfus Seeks Toss Of Suit Over Cotton Losses

Law360, New York (November 29, 2012, 4:45 PM EST) -- Louis Dreyfus Commodities BV on Wednesday urged a New York federal judge to toss a consolidated class action accusing the company of unlawfully inflating cotton prices and manipulating the cotton futures market, saying investors are trying to shift the blame for their own poor choices.

The plaintiffs, which include former senior Glencore trader Mark Allen, allege on behalf of hundreds of traders that Dreyfus and its affiliates, including Term Commodities Inc. and Allenberg Cotton Co., violated the Commodity Exchange Act and the Sherman Act. Allen claims...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.