Law360, New York (November 14, 2004, 12:00 AM EST) -- A San Diego-based consumer organization has filed a class-action suit against petroleum refiner Unocal and Union Oil Co. of California seeking a refund for California gasoline consumers of $450 million in monopoly profits the company is alleged to have recorded as a result of manipulating its patent rights.
The Utilities Consumers' Action Network said it filed the suit to protect consumers' interests after a similar suit was filed in late October that might benefit only private parties.
The complaint claims that Unocal hid from the California...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.