This official website is maintained by the Administrator under the supervision of Class Counsel in the action titled In re: Term Commodities Cotton Futures Litigation, No. 12-cv-5126 (ALC) (JW), pending in the United States District Court Southern District of New York.
The information contained on this website is only a summary of the information presented in more detail in the Notice of
Pendency of Class Action (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional details.
The purpose of this website is to inform potential Class Members: (1) of a class action lawsuit that is now pending in the United States District Court Southern District of New York (the “Court”) referred to as In re Term Commodities Cotton Futures Litigation, Case No. 12-cv-5126 (the “Action”) and (2) that the Action has been certified by the Court to proceed as a class action on behalf of the Class, as defined below. There is no settlement and you are not being asked to submit a claim.
The Class certified by the Court is defined as:
The purpose of this website is to inform potential Class Members: (1) of a class action lawsuit that is now pending in the United States District Court Southern District of New York (the “Court”) referred to as In re Term Commodities Cotton Futures Litigation, Case No. 12-cv-5126 (the “Action”) and (2) that the Action has been certified by the Court to proceed as a class action on behalf of the Class, as defined below. There is no settlement and you are not being asked to submit a claim.
The Class certified by the Court is defined as:
All persons, corporations and other legal entities that (a) purchased between March 30 and May 6, 2011 a May 2011 Contract in order to liquidate
a short position in such contract, including short positions held as part of spread positions; or (b) contracted to purchase cotton on call based
on the May 2011 Contract price, and set the price on this contract between March 30 and May 6; or (c) purchased between June 7 and July 7, 2011,
a July 2011 Contract in order to liquidate a short position therein, including short positions held as part of spread positions; or (d) contracted
to purchase cotton on call based on the July 2011 Contract price, and set the price on this contract between June 7 and July 7, 2011.
Excluded from the Class are Defendants, any parent, subsidiary, affiliate, agent or employee of any Defendant, and any co-conspirator
If you are a member of the Class, you may be entitled to participate in any benefits that may eventually be obtained for the Class as a result of this lawsuit. There is, however, no assurance that a judgment in favor of the Class will be granted. Please read the Notice to fully understand your rights and options.
Please Note: This Action is currently ongoing. No court has made a ruling on the merits of the allegations asserted against Defendants in the Action or on Defendants’ denials and defenses. There is no judgment, settlement, or monetary recovery at this time, and there this no guarantee there will be any recovery .
If you are a member of the Class, you may be entitled to participate in any benefits that may eventually be obtained for the Class as a result of this lawsuit. There is, however, no assurance that a judgment in favor of the Class will be granted. Please read the Notice to fully understand your rights and options.
Please Note: This Action is currently ongoing. No court has made a ruling on the merits of the allegations asserted against Defendants in the Action or on Defendants’ denials and defenses. There is no judgment, settlement, or monetary recovery at this time, and there this no guarantee there will be any recovery .
| CLASS MEMBERS’ RIGHTS AND OPTIONS | |
|---|---|
| DO NOTHING AND REMAIN IN THE CLASS |
If you remain in the Class, you will give up the right to file (or continue) your own lawsuit, or seek
any other form of resolution of claims you might have against Defendants concerning the claims in this
lawsuit, and you will be legally bound by all Court orders, judgments, or settlements approved by the Court. Class members, in order to obtain their share, may be required to produce evidence, including but not limited to trading records for all accounts in which they have a financial interest, showing all trades in the May and July 2011 ICE Cotton No. 2 futures contracts and on-call contracts during the Class Period. Class members should therefore preserve records of their transactions in such contracts. Class members should also preserve records of any purchases and/or sales of options on May and July 2011 ICE Cotton No. 2 futures contracts and/or physical cotton in the cash market during the Class Period, as well as any other documents that may be relevant to their claims. Additional information regarding your rights and options as a Class Member is included in the Notice. |
| EXCLUDE YOURSELF FROM THE CLASS BY SUBMITTING A REQUEST FOR EXCLUSION THAT IS RECEIVED NO LATER THAN NOVEMBER 20, 2023. |
If you are a Class Member and choose to be excluded from the Class, you must request exclusion in accordance
with the procedures in the Notice. If you exclude yourself from the Class, you cannot make a claim against
any money or benefits that might be recovered by the Class from Defendants as a result of a judgment or
settlement, if any. Further information regarding the requirements for submitting a valid request for exclusion from the Class is included in the Notice. |
