Amaranth, Investors Settle Futures Price Suit For $77M

Law360, New York (December 16, 2011, 10:04 PM EST) -- Natural gas futures contracts purchasers on Friday settled for $77.1 million their class action in New York accusing hedge fund Amaranth LLC and its subsidiaries of manipulating the prices of the contracts.

U.S. District Judge Shira A. Scheindlin granted preliminary approval to a settlement between the plaintiffs and the Amaranth defendants in a consolidated suit alleging the hedge fund exploited its influence in order to drive up prices on natural gas futures.

Under the terms of the settlement, Amaranth and its directors have agreed to transfer...
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