KeySpan, Morgan Stanley Antitrust Action Tossed

Law360, New York (March 23, 2011, 3:20 PM EDT) -- A New York federal judge on Tuesday threw out a putative class action alleging KeySpan Corp. and Morgan Stanley Capital Group Inc. entered into a derivative transaction agreement that allowed the electricity generation company to keep power prices artificially high.

Judge Shira Scheindlin of the U.S. District Court for the Southern District of New York dismissed Charles Simon’s complaint on the grounds of lack of antitrust injury or standing, the filed rate doctrine and the federal preemption doctrine.

Simon had sought damages of at least $118...
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