BP Hit With Class Action For Manipulating Oil Prices

Law360, New York (September 28, 2006, 12:00 AM EDT) -- Almost a month after British Petroleum Plc. confirmed that it was under investigation for allegedly manipulating crude oil markets, the oil giant has been hit with a class action lawsuit.

The suit, filed Tuesday in the U.S. District Court for the Southern District of New York by Michael Anastasio and others similarly situated, accuses BP of “unlawful manipulation of crude oil prices,” as reflected in the prices of futures and option contracts traded on the New York Mercantile Exchange, as well as prices in the global...
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