Panel Upholds Dismissal Of Commodities Traders’ CEA Claims On Appeal

Mealey's (July 21, 2022, 2:11 PM EDT) -- NEW YORK — A federal district court did not err in dismissing class claims brought by commodities traders against three banks and others on allegations that the defendants violated provisions of the Commodities Exchange Act (CEA) by engaging in fraudulent spoofing because the traders failed to sufficiently plead that they were injured under the statute by the banks’ spoofing, a Second Circuit U.S. Court of Appeals panel ruled July 20 in affirming....