Banking Law News

Kraft’s $16 Million Settlement With CFTC Axed by Judge

Oct. 23, 2019, 11:34 PM

A district court judge in Illinois has vacated a $16 million settlement between the CFTC and Kraft Heinz Co. and Mondelez International Inc. that would have ended allegations that the companies manipulated the wheat and wheat futures markets in 2011.

The Oct. 23 filing comes a day after the U.S. Court of Appeals for the Seventh Circuit stopped the judge from forcing three of the agency’s commissioners to testify about whether they and several Commodity Futures Trading Commission attorneys allegedly violated a non-disclosure provision included in the settlement when they issued a series of statements Aug. 15 about the resolution....

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