M&N Trading, LLC v. BofA Securities, Inc., Merrill Lynch, et al.,
24-cv-1229 (N.D. Ill.)
Case Overview
| Status: | Status: Pending |
| Court: | Court: Northern District of Illinois |
| Case Number: | Case Number: 24-cv-1229 (N.D. Ill.) |
| Class Period: | Class Period: October 2014 - February 2021 |
| Related Attorneys: | Lead Attorneys: Anthony F. Fata, James A. Isacks |
| Related Practices: | Related Practices: Commodities, Antitrust |
Plaintiff alleges that Defendants BofA Securities, Inc.; Merrill Lynch, Pierce, Fenner & Smith Incorporated; and John Doe Nos. 1-20 (collectively, “Defendants”) used a manipulative device called "spoofing" to cause artificial prices for U.S. Treasury Securities, Treasury futures contracts, and options on U.S. Treasury Futures between October 2014 through February 2021. Specifically, the Complaint contains dozens of examples of Defendants placing illegitimate orders for Treasury Securities or Treasury Futures, which orders Defendants intended to cancel prior to execution at the time those orders were placed. These artificial prices illegitimately benefited Defendants financially, at the expense of other investors, including Plaintiff and the Class.