Judge Trims Scope Of FERC Power Market Manipulation Case

By Keith Goldberg (November 29, 2021, 4:16 PM EST) -- An Ohio federal judge on Monday rejected the Federal Energy Regulatory Commission's efforts to impose personal liability and disgorgement on co-owners of a shuttered Pennsylvania trading firm in an electricity market manipulation case, saying district courts can only decide whether FERC can enforce civil penalties.

U.S. District Judge Michael H. Watson — who is overseeing FERC's long-running bid to enforce $42 million in penalties against Coaltrain Energy LP, its two founders, and three traders — said the agency can't pursue joint and several liability against Coaltrain co-owners Peter Jones and Shawn Sheehan and $4 million in disgorgement from the men and...

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