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LAGORIO v. BOARD OF TRADE OF CITY OF CHICAGO

No. 75-1523.

529 F.2d 1290 (1976)

Robert LAGORIO, Individually and on behalf of those who at the close of trading on June 21, 1973 held future contracts for July, August soybeans on the Board of Trade of the City of Chicago, Plaintiffs-Appellants, v. The BOARD OF TRADE OF the CITY OF CHICAGO et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided February 13, 1976.

Attorney(s) appearing for the Case

Edwin H. Conger, Chicago, Ill., for plaintiffs-appellants.

Gary M. Elden, Chicago, Ill., for defendants-appellees.

Before CASTLE, Senior Circuit Judge, and PELL and TONE, Circuit Judges.

TONE, Circuit Judge.

Plaintiff is a trader on the Chicago Board of Trade who contends that a suspension of trading ordered under the Board's emergency rule was unauthorized by the rule and amounted to market manipulation in violation of 7 U.S.C. § 13(b). The District Court entered summary judgment for the defendants, which we affirm.

On June 21, 1973, plaintiff held two futures contracts to buy July 1973 soybeans...

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