Banking Law News

Kraft, Mondelez Contempt Claims Against CFTC Stayed by Court (Correct)

Sept. 26, 2019, 7:26 PMUpdated: Sept. 26, 2019, 11:29 PM

A bid by Kraft Heinz Inc. and Mondelez International Inc. to sanction the CFTC for disclosing details of a $16 million settlement for allegedly manipulating wheat futures prices has been stayed by a federal appeals court.

The U.S. Court of Appeals for the Seventh Circuit on Sept. 26 put a hold on the litigation, which alleges the Commodity Futures Trading Commission violated the terms of an unusual non-disclosure agreement when individual commissioners issued public statements about the case.

The proceedings in the U.S. District Court for the Northern District of Illinois are stayed, pending the appeals court’s consideration of the...

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