Robert E. Stephan v. S. Jay Goldinger, and Refco, Inc.
Court of Appeals for the Seventh Circuit
1Opinion of the Court
POSNER, Circuit Judge.
Ludwig Stephan, whose estate is one of the plaintiffs (we can disregard the others), opened a commodity futures trading account with defendant Refco (we can disregard the other defendants as well), lost his investment, and sued Refco, charging fraud in violation of the Commodity Exchange Act. The Act contains a two-year statute of limitations, 7 U.S.C. § 25(c), and the plaintiff sued within two years (or so we may assume, though Refco, as an alternative ground for affirmance, argues that the plaintiff missed that deadline too). But Stephan’s contract with Refco provided…
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