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Reuters

U.S. Judge says Kraft, Mondelez must face wheat price rigging lawsuit

Reuters
2016-06-27T18:27:42Z
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A box of Kraft macaroni and cheese and a Heinz Ketchup bottle are displayed together on a grocery store shelf in New York March 25, 2015. REUTERS/Brendan McDermid
A box of Kraft macaroni and cheese and a Heinz Ketchup bottle are displayed together on a grocery store shelf in New York Thomson Reuters

(Reuters) - A federal judge in Chicago on Monday rejected Kraft Heinz Co's and Mondelez International Inc's effort to dismiss a lawsuit in which wheat futures and options traders accused them of illegally manipulating the grain's price.

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U.S. District Judge Edmond Chang in Chicago said the plaintiffs may pursue claims over an alleged scheme to buy large amounts of wheat futures, despite never intending to take possession of the grain.

(Reporting by Jonathan Stempel in New York; Editing by Alan Crosby)

Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.

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