CFTC Claims Against Fund Advisers Go to Trial Alongside SEC Suit

Two financial firms and their managers will head to trial to defend themselves from a commodity regulator’s deception claims, just as in a parallel SEC suit over investment losses allegedly totaling more than $1 billion.

Neither the Commodity Futures Trading Commission nor the defendants are entitled to summary judgment resolving claims without a jury’s input, Judge Sunil R. Harjani said Thursday for the US District Court for the Northern District of Illinois. The suit targets LJM Partners Ltd., affiliated advisory firm LJM Funds Management Ltd., owner Anthony Caine, and investment manager Anish Parvataneni.

• Harjani on Oct. 3 denied the Securities ...