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US: Kraft Foods must face class action antitrust suit

By  |  January 6, 2020

Kraft Food Group must face a certified class action by commodities traders alleging a long-running scheme by the processed foods giant to manipulate the wheat futures market, a Chicago federal judge ruled.

The antitrust suit accuses Kraft of buying $90 million in wheat futures in late 2011, well more than it legitimately needed, and maintaining its position for months while ceasing all cash purchases. The move misled traders into believing that the company, a major bulk buyer, was meeting its wheat needs solely through futures, according to the suit.

Full Content: Bloomberg

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