Glencore, Viterra Sue Louis Dreyfus for $200 Million Cotton Loss

Glencore Ltd. and Viterra BVhave filed a lawsuit in New York claiming they lost more than $200 million from failed bets on cotton futures in 2011 because Louis Dreyfus Co. “manipulated and artificially inflated” prices.

The dispute is the latest in a legal fight that began more than a decade ago when traders accused Louis Dreyfus and its Allenberg unit of amassing huge positions in futures contracts to limit supply in the largest ever cotton market “squeeze,” when prices surged to a record. Two years ago, a US judge ruled the Dutch commodity trader must face an antitrust class ...