“Bring Out Your Dead!” - In CFTC v. Wilson, Court Reminds CFTC that Market Manipulation Requires an Artificial Price

On November 30, 2018, a federal court rejected the Commodity Futures Trading Commission’s (“CFTC”) allegations of market manipulation in CFTC v. Wilson (“ DRW ”) and found in favor of the defendants, Donald R. Wilson (“Wilson”) and his company, DRW Investments, LLC (together “DRW”). According to Judge Richard Sullivan (appointed to the 2nd Circuit Court of Appeals during the pendency of the matter and writing the decision while sitting by designation in the United States District Court for the Southern District of New York), “the CFTC … failed to prove that Defendants intended to cause...