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Kraft, Mondelez Face Treble Damages in Wheat Trade Scheme

June 29, 2016, 4:00 AM

Kraft Foods Group and Mondelez Global LLC face discovery in a class action accusing them of violating the Sherman and Commodity Exchange Acts by manipulating wheat futures (Ploss v. Kraft Foods Grp., 2016 BL 205717, N.D. Ill., 15 C 2937, 6/27/16).

Judge Edmond E. Chang held June 27 that plaintiff Harry Ploss stated enough facts to support his claims for monopolization under the Sherman Act and manipulation under the Commodity Exchange Act (CEA). He dismissed two “wash trades” claims under the CEA without prejudice.

The complaint, filed on behalf of those who traded wheat futures in ...

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