Chicago partner Jim Lundy was interviewed by Crain’s Chicago Business in an article titled “DRW's Wilson Scores Big Win in Market-Manipulation Case.” Jim discussed the district court’s ruling after a bench trial in which the judge ordered a judgement for the defendants on all of the claims brought by the Commodity Futures Trading Commission (CFTC) against noted Chicago trading firm DRW Trading and its owner, Don Wilson.

In its 2013 complaint, the CFTC alleged that Wilson and DRW entered alleged artificial inflated bids in certain interest rate swap futures markets, thus allegedly creating artificial prices to support other positions DRW held in the market. The court ruled that the CFTC’s Enforcement Division had failed to provide sufficient evidence to support its claims and entered judgment in favor of the defendants on all claims.

Jim observed that the ruling is “harsh in its view of the CFTC’s case” and that the Hon. Judge Richard Sullivan’s opinion is “very well-done.” He also discussed certain reasons why it is unlikely that the CFTC will appeal and he further discussed potential defense strategies that may be gleaned from the ruling.

Read “DRW's Wilson Scores Big Win in Market-Manipulation Case.”

Source: Crain's Chicago Business
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