CFTC's Ambitious Kraft Suit To Test Dodd-Frank Powers
Law360, New York (April 2, 2015, 8:20 PM EDT) -- The U.S. Commodity Futures Trading Commission's new lawsuit against Kraft Foods Group Inc. shows the agency feels ready to battle-test its expanded powers against market manipulation, putting on the line a closely watched legal standard born out of the Dodd-Frank Act.
The case, filed Wednesday in Chicago federal court, accuses Kraft and fellow snack food maker Mondelez Global LLC of manipulating the price of wheat commodities and futures in late 2011 with a scheme that allegedly took advantage of the high prices for the crop at the time.
According to the CFTC, the two companies, which were then combined under the...
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