The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency of Class Action (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice and Complaint for additional details.

Your Legal Rights Could Be Affected Whether You Act or Do Not Act.  Please Read the Notice Carefully.

IF YOU TRANSACTED IN CBT WHEAT PRODUCTS BETWEEN NOVEMBER 1 THROUGH DECEMBER 14, 2011, INCLUSIVE, (THE “CLASS PERIOD”), YOUR RIGHTS MAY BE AFFECTED BY THE PROCEEDINGS IN THIS CLASS ACTION LAWSUIT.

YOU ARE NOT BEING SUED.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS LAWSUIT:

1. REMAINING IN THE CLASS

To remain in the Class, you do not need to do anything. If you do not opt out pursuant to the procedures set forth below, you will remain in the Class. If you remain in the Class, you will give up the right to file (or continue) your own lawsuit or seek any other form of resolution of claims you might have against Kraft concerning the claims in this lawsuit, and you will be legally bound by all court orders, judgments, or settlements approved by the Court. If money or benefits are obtained for the Class as a result of judgment or settlement, you may be entitled to share in a portion of such money or benefits. If money or benefits are obtained in this class action, the Class will be separately notified as to how to make a claim to participate and request a share of any money or benefits recovered for the Class.

Class members may be required to produce trading records for all accounts in which they have a financial interest, showing all trades in the CBT December 2011 or March 2012 Contracts made after October 31, 2011. Class members should preserve records of their transactions in CBT December 2011 and CBT March 2012 Contracts (and options on such futures contracts) traded after October 31, 2011 (including any monthly statements for October 2011). Class members should also preserve records of any purchases and/or sales of physical wheat in the cash market between November 1, 2011 and March 14, 2012.

2. OPTING OUT

You have the legal right to opt out of this class action. If you choose to exercise your right to opt out of the Class, you will not be bound by any court orders, judgments, jury verdicts, or settlements approved by the Court, but you keep your right to sue or otherwise resolve your potential claims against Kraft on your own. If you opt out, you cannot make a claim against any money or benefits that might be recovered by the Class from Kraft as a result of a judgment or settlement, if any.

To opt out of the Class, you must mail, e-mail or submit through the case website a written statement to A.B. Data, Ltd. (mailing address, e-mail address and case website address referenced below) no later than February 11, 2021 stating: (1) you are a member of the Class in Ploss v. Kraft Foods Group, Inc. et al.; and (2) you request to be excluded from the Class. Your written request for exclusion must also include your full name, address, telephone number, email address (if any) and signature. A sample opt-out form is available on this website. The Court will exclude from the Class any member who submits a valid and timely request for exclusion.

WHAT IS THIS CASE ABOUT?

This lawsuit alleges that Kraft manipulated the CBT wheat futures market by buying and maintaining an enormous position (approximately 15 million bushels) in the CBT December 2011 Contracts for the purpose of influencing prices, rather than because of any legitimate need for that quantity of wheat. Specifically, the Plaintiffs, who filed this lawsuit on behalf of themselves and the Class, allege that Kraft established a 3,000-contract position in the CBT December 2011 Contract in order to falsely signal to the market that it planned to source wheat from the futures market using the CBT delivery process in December 2011. The alleged purposes of this false signal were: (a) to net Kraft a large profit from its long position in the CBT December 2011 Contract and its short position in the CBT March 2012 Contract; and (b) depress the prices Kraft would pay to buy wheat in the cash market. Plaintiffs contend that taking delivery of wheat on CBT delivery market required Kraft to pay high prices for the wrong quality and wrong quantity of wheat in the wrong places and at the wrong times.

The Plaintiffs in this lawsuit seek recovery from Kraft on behalf of the Class of wheat futures and options investors that were injured by Kraft’s alleged actions. Plaintiffs assert claims against Kraft under the Commodity Exchange Act, 7 U.S.C. §1 et seq. (“CEA”), the Sherman Antitrust Act, 15 U.S.C. § 2, et seq. (“Sherman Act”) and the common law regarding unjust enrichment.

Kraft denies that it did anything wrong and asserts that the Plaintiffs’ claims have no merit. Among other things, Kraft asserts that its futures position was not “enormous,” was well within applicable limits, and did not signal anything—let alone something false—or impact any futures prices throughout November 2011 or thereafter. Kraft also asserts there was nothing improper about standing for delivery in the futures market given that cash market prices were high and Kraft had a real need for wheat.

The Court has not yet decided whether the Plaintiffs or Kraft are correct. If the case goes to trial, the lawyers for the Class will have to prove their claims.

WHO IS A MEMBER OF THE CLASS?

The Class certified by the Court is defined as all persons or entities who either:

a. purchased a CBT December 2011 Contract or a CBT March 2012 Contract after October 31, 2011 except that purchases of CBT March 2012 Contracts made after December 14, 2011 qualify for inclusion in the Class only to the extent they were made in liquidation of a short position in the CBT March 2012 Contract (whether an outright short position or as part of a spread position) which was sold between November 1 and December 14, 2011 inclusive; or

b. sold put options or purchased call options on the CBT December 2011 Contract or on the CBT March 2012 Contract after October 31, 2011 except that sales of put options or purchases of call options on the CBT March 2012 Contracts made after December 14, 2011 qualify for inclusion in the Class only to the extent they were made in liquidation of a position in the CBT March 2012 Contract (whether an outright position or as part of a spread position) which was initiated between November 1 and December 14, 2011 inclusive.

Excluded from the Class are Cargill, Inc., the Defendants and any parent, subsidiary, affiliate or agent of any Defendant.

WHO REPRESENTS THE CLASS?

The Court appointed Lovell Stewart Halebian Jacobson LLP, 500 Fifth Avenue, Suite 2440, New York, New York 10110, and Lowey Dannenberg, P.C., 44 South Broadway, Suite 1100, White Plains, New York 10601, as “Class Counsel” to represent the Class. To participate in the class action, you do not have to pay Class Counsel or anyone else. Instead, if Class Counsel recovers money or benefits for the Class, they will ask the Court for an award of attorneys’ fees and costs to be paid from any such recovery whether by judgment award or settlement fund. You may hire your own lawyer to appear in Court for you, but if you do, you are responsible for paying that lawyer.

HOW CAN I GET MORE INFORMATION?

If you have questions related to this lawsuit, your rights or wish to review other documents related to this lawsuit, you may call or email the Notice Administrator. You may also contact Class Counsel with any questions.

Notice Administrator:

A.B. Data, Ltd.

P.O. Box 173019

Milwaukee, WI 53217

877-883-8949

info@2011wheatfuturesclassaction.com

Lead Counsel:

Christopher Lovell

Christopher McGrath

LOVELL STEWART HALEBIAN

JACOBSON LLP

500 Fifth Avenue, Suite 2440

New York, New York 10110

Telephone: (212) 608-1900

Vincent Briganti

Raymond Girnys

LOWEY DANNENBERG, P.C.

44 South Broadway, Suite 1100

White Plains, New York 10601

Telephone: (914) 997-0500

Remember to include "Wheat Futures Class Action" on any correspondence, envelope, and/or subject line.