Louis Dreyfus loses bid to dismiss cotton squeeze lawsuit

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Louis Dreyfus Commodities BV lost a bid on Friday to dismiss a lawsuit by traders accusing it of illegally manipulating the price of cotton futures in 2011.

U.S. District Judge Andrew Carter in Manhattan dismissed one claim in the proposed class action but largely allowed the lawsuit to move forward.

The lawsuit has been closely watched in the commodities sector since its filing last year by Mark Allen, a former senior trader at Louis Dreyfus rival Glencore.

 


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