5th Circ. OKs Toss Of Gas-Rate Tampering Suit V. ETP

Law360, New York (September 16, 2010, 7:18 PM EDT) -- A federal appeals court has again sided with Energy Transfer Partners LP in affirming the dismissal of a putative class action that accused the pipeline operator and energy trader of illegally manipulating natural gas futures and options prices on the New York Mercantile Exchange.

A three-judge panel in the U.S. Court of Appeals for the Fifth Circuit said Wednesday that the plaintiff, Rio Grande Royalty Co. Inc., failed to state a fraud claim because it did not “allege either a material misstatement or actionable omission” by...
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