[DOWNLOAD] "Joseph Strobl" by United States Court of Appeals for the Second Circuit * eBook PDF Kindle ePub Free
eBook details
- Title: Joseph Strobl
- Author : United States Court of Appeals for the Second Circuit
- Release Date : January 05, 1985
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 61 KB
Description
Before: FEINBERG, Chief Judge, TIMBERS and CARDAMONE, Circuit Judges CARDAMONE, Circuit Judge: This appeal represents the latest chapter in a long history of litigation generated by the highly publicized May 1976 default of Maine potato futures contracts that occurred when the sellers of 1000 contracts failed to deliver approximately 50 million pounds of potatoes. The sellers' refusal to deliver brought about the largest default in the history of commodities futures trading. Throughout an 11-day trial before the United states District Court for the Southern District of New York (MacMahon, J.), plaintiff Joseph Strobl contended that defendants J.R. Simplot, P.J. Taggares and their potato processing companies acting in concert as sellers brought about this default. Strobl claimed that these defendants engaged in a conspiracy to drive down potato prices and default on Maine potato futures contracts and that they profited by reducing the prices they paid for potatoes in 1976 and thereafter. Strobl had invested in 1976 Maine potato futures; the damages he claimed were the difference between what he received from the sale of those futures and what he would have received in a fair market.