United States Second Circuit
Klein & Co. Futures v. Board of Trade of the City of N.Y., 05-1374
In action involving the conduct of former chariman of the New York Futures exchange, dismissal for for lack of standing to bring claims under Sections 22(a) and (b) of the Commodity Exchange Act, 7 U.S.C. section 25, is affirmed as plaintiff was not engaged engaged in any transaction on or subject to the rules of a contract market and did not suffer any actual losses that resulted from such transaction as required by section 22 of the CEA. Moreover, the district court did not abuse its discretion in dismissing plaintiff's state law claims without prejudice, rather than with prejducie.
Appellate Information
- Decided 09/18/2006
- Published 09/18/2006
Judges
- B.D. PARKER, JR., Circuit Judge:, Before: POOLER and B.D. PARKER , Circuit Judges.
Court
- United States Second Circuit
Counsel
- For Appellant:
- Jeffrey Plotkin, Pitney Hardin LLP, New York, NY, for Appellant Klein & Co. Futures, Inc.
- For Appellees:
- Gary D. Stumpp, Stumpp & Bond LLP, New York, NY, for Appellees First West Trading, Inc. and Norman Eisler., Howard R. Hawkins, Jr., Cadwalder, Wickerhsam & Taft LLP, New York, NY, for Appellees Nybot, et al.