Article: Guebert: ‘Price fixing’ settlements need big fix

Article - Media, Publications

Guebert: ‘Price fixing’ settlements need big fix

Alan Guebert, 04 April 2021

In a too-common story in American agriculture, Archer Daniels Midland last month agreed to pay farmers $45 million to settle what the March 13 Wall Street Journal described as “price-fixing allegations leveled at its peanut processing division.”

While $45 million is, indeed, peanuts to ADM, this isn’t the first time the Chicago-based company has faced market manipulation charges. In the late 1990s, ADM spent years and millions on criminal and civil price-fixing settlements. But ADM isn’t the only ag master of the universe to settle recent civil lawsuits over alleged market irregularities. Continue reading “Article: Guebert: ‘Price fixing’ settlements need big fix”

Article: Federal agencies launch probe into possible manipulation after GameStop trading frenzy: WSJ

Article - Media, Publications

Federal agencies launch probe into possible manipulation after GameStop trading frenzy: WSJ

Noor Zainab Hussain, 11 February 2021

(Reuters) – Federal prosecutors and regulators are investigating whether “market manipulation or other types of misconduct” led to a meteoric rise in shares of companies such as GameStop and AMC, the Wall Street Journal reported on Thursday.

The Justice Department’s fraud section and the San Francisco U.S. attorney’s office have sought information about the trading from brokers and social-media companies that were hubs for the trading, the WSJ reported, citing people familiar with the matter. on.wsj.com/3abznn1

Prosecutors have subpoenaed information from brokers such as Robinhood, according to the report.

Additionally, the Commodity Futures Trading Commission has opened a preliminary investigation into whether misconduct occurred as some Reddit traders targeted silver futures, the WSJ report.

A Justice Department spokesperson did not immediately respond to a Reuters request for comment.

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