The Commodity Futures Trading Commission ceased its lawsuit that had accused an energy trading firm and its head trader of manipulating market prices of energy futures in a “spoofing” scheme.
The commission and Logista Advisors LLC asked the US District Court for the Northern District of Illinois in a joint stipulation docketed on Monday to dismiss the lawsuit with prejudice. The commission previously alleged Logista and its founder and principal Andrew Serotta sent false signals of increased buying or selling interest to trick others in the market into making higher bids or lower offers.
- CFTC’s complaint alleged Serotta engaged in ...
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