Optiver Crude Trading Suits Paused For CFTC Mediation

Law360, New York (June 22, 2011, 4:17 PM EDT) -- A New York federal judge on Wednesday stayed three consolidated investor class actions accusing Optiver Holding BV of manipulating crude oil prices as the U.S. Commodity Futures Trading Commission pushes for a mediated settlement with the Dutch trading company.

U.S. District Judge Loretta A. Preska stayed the civil cases after referring the CFTC matter to mediation for a possible settlement on June 15. No time frame for the mediation was available, and neither the defendant nor the CFTC immediately returned requests for comment Wednesday.

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Case Information

Case Title

U.S. Commodity Futures Trading Commision v. Optiver US, LLC et al


Case Number

1:08-cv-06560

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Loretta A. Preska

Date Filed

July 24, 2008


Case Title

IN RE: OPTIVER COMMODITIES LITIGATION


Case Number

1:08-cv-06842

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Loretta A. Preska

Date Filed

July 30, 2008

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