5th Circ. Nixes Antitrust Actions Against OPEC Cos.

Law360, New York (February 9, 2011, 1:41 PM EST) -- The Fifth Circuit has upheld the dismissal of two class actions alleging a host of oil companies, many of which are owned by foreign governments in the Organization of Petroleum Exporting Countries, conspired to fix oil prices.

The U.S. Court of Appeals for the Fifth Circuit issued the ruling Tuesday, saying the district court properly dismissed the allegations based on the political question doctrine and, alternatively, on the act of state doctrine.

The plaintiffs — U.S. gasoline retailers and other oil purchasers — alleged that certain...
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