Is there a federal right to cheap cheese? The Dairy Farmers of America might like that formulation of the legal issues in the case brought against it by Killer Whale Holdings, LLC and others.
Surely the plaintiffs in this case of alleged market manipulation might want to characterize the case differently — perhaps, can the nation’s largest dairy cooperative covertly buy 12 million pounds of cheddar over one month to artificially inflate cheese prices or is that a violation of Section 9 of the Commodoties Exchange Act as the Commodity Futures Trading Commission found in December, 2008?
Plaintiffs are futures traders who allegedly lost millions of dollars on bets due to the alleged covert cheese buys of the DFA.
The case is before U.S. District Court Judge John Tunheim, with Robins Kaplan Miller & Ciresi for the plaintiffs and lead lawyers fro the DFA from McDermott Will & Emery out of DC and Chicago.