Court Says Trading Company Not Nominal Defendant

Law360, New York (July 21, 2008, 12:00 AM EDT) -- A federal judge has ruled that if the U.S. Commodity Futures Trading Commission wants to accuse a trading company of wrongdoing in a case it filed against two Chicago Board of Trade traders, it must sue the company as an outright defendant and not as a nominal party.

On Thursday, the U.S. District Court for the Northern District of Illinois dismissed defendants Lawrence-Bonfitto Trading Co. and its principal Joseph J. Bonfitto from the lawsuit. The commission had not established that the allegedly nominal defendants have no...
To view the full article, register now.