Holding that deception occurs when "investors are misled to believe that prices at which they purchase and sell securities are determined by the natural interplay of supply and demand, not rigged by manipulators"
Holding that a pro se plaintiff should be "grant[ed] leave to amend at least once when a liberal reading of the complaint gives any indication that a valid claim might be stated" but leave to amend may be properly denied as "futile"
Holding that congressional amendment of the Commodity Exchange Act that was silent on the subject of private judicial remedies did not overturn federal court decisions routinely and consistently recogniz[ing] an implied private cause of action"
Holding that to prove fraud, the defendant must be "engaged in deceptive or manipulative conduct by injecting inaccurate information into the marketplace or creating a false impression of supply and demand for the security"
Authorizing the CFTC to seek to prohibit from future trading any person who "has willfully made any false or misleading statement of a material fact in any registration application or any report filed with the Commission"
Making it a felony for any person "to manipulate or attempt to manipulate the price of any commodity in interstate commerce" or to "knowingly . . . deliver or cause to be delivered . . . false or misleading or knowingly inaccurate reports concerning crop or market information. . . ."