Cargill, Andersons Face Investor Class in Wheat Futures Lawsuit

Two investors suing Cargill Inc. and The Andersons Inc. claiming manipulation of the wheat futures and options market can proceed on behalf of a class, a federal court ruled.

“The existence and impact of the alleged manipulative scheme is central to every class member’s claims,” Judge Robert W. Gettleman said Wednesday for the US District Court for the Northern District of Illinois.

Gettleman rejected one of the three proposed class representatives, Michael Glass, over credibility issues tied to derivative exchange operator CME Group’s allegations that he violated its rules. One of the instances involved “the contracts that are the ...