BP Settles 2nd Propane Monopoly Suit

Law360, New York (April 26, 2011, 10:04 PM EDT) -- BP America Inc. told an Illinois federal court Tuesday it had reached a settlement with a group of gas companies that accused it of putting a stranglehold on propane supplies when it tried to corner the market in 2004.

Court filings did not divulge the terms of the agreement, only saying that each side would cover its own costs and attorneys' fees. Attorneys for the parties and representatives from BP did not immediately respond to requests for comment Tuesday.

Some of the largest propane purchasers in...
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