Law360, New York (June 24, 2010, 6:59 PM ET) -- A federal appeals court has ruled that the plaintiffs in a putative class action accusing Energy Transfer Partners LP of manipulating natural gas futures and options prices have failed to properly allege their claim.
Plaintiffs Richard Hershey and Roberto E. Gracey failed to sufficiently allege that ETP specifically intended to manipulate New York Mercantile Exchange natural gas futures contracts, a three-judge panel ruled in the U.S. Court of Appeals for the Fifth Circuit on Wednesday.
The plaintiffs alleged only that ETP knew or should have known...
ETP Off Hook For Natural Gas Price-Fixing Claims
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