Morrison's Impact On Commodity Exchange Act Claims

Law360, New York (July 11, 2017, 12:00 PM EDT) -- The U.S. District Court in the Southern District of New York recently dismissed a class action alleging, among other claims, that a large number of entities and individuals in the market for producing, refining and trading Brent crude oil (together, defendants) manipulated the prices of Brent crude oil and Brent crude oil futures and other derivatives contracts traded on the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE Futures Europe), in violation of Sections 6(c)(1) and 9(a) of the Commodity Exchange Act, 7 U.S.C....
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