United States Commodity Futures Trading Commission v. Hunter Wise Commodities, LLC., et. al., Case No. 12-81311-Civ-Middlebrooks, Southern District of Florida.

As a follow up to our recent post concerning the above referenced matter, the Court on February 25, 2013 followed its Order Appointing Special Corporate Monitor of February 22, 2013, by issuing its Order on Plaintiff’s Motion for Preliminary Injunction, which granted the same as more fully referenced in the below link.

Interestingly, the Court provided a brief discussion concerning the jurisdiction of the Commodity Futures Trading Commission (CFTC), with the most recent expansion of that jurisdiction being that contained in Section 742 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which granted the CFTC new authority over certain leveraged, margined, or financed commodity transactions with retail customers, including the authority to prohibit fraud in connection with such transactions in interstate commerce.  This decision is extremely important for retail customers purchasing and selling precious metals with the use of leverage.

Order Granting Preliminary Injunction 2-25-13.pdf

Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Fort Lauderdale Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.