This action arises from Deutsche Bank’s unlawful and intentional manipulation of U.S. Treasury Futures contracts and options on Treasury Futures contracts (“Treasury Futures”) and Eurodollar Futures contracts and options on Eurodollar Futures contracts (“Eurodollar Futures”) that trade on United States-based exchanges, including the Chicago Mercantile Exchange (“CME”) and its subsidiary the Chicago Board of Trade (“CBOT”), during the period from at least January 1, 2013 through December 31, 2013 (the “Class Period”) in violation of the Commodity Exchange Act, 7 U.S.C. §§ 1, et seq. (the “CEA”), and the common law.
As alleged, Defendants manipulated the prices of Treasury and Eurodollar Futures by employing a manipulative device known as “spoofing,” whereby Defendants placed orders for Treasury and Eurodollar Futures to send false supply and demand signals to these markets and then canceled those orders before execution. As a result, Defendants caused Treasury and Eurodollar Futures prices to be artificial throughout the Class Period to financially benefit their trading positions at the expense of other investors, such as Plaintiff and the Class.
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