DOJ Settles 1st Case Over Bid Rigging At Natural Gas Auctions

Law360, New York (February 15, 2012, 9:06 PM EST) -- The U.S. Department of Justice on Wednesday reached a $550,000 settlement with Gunnison Energy Corp. and SG Interests I and VII Ltd. over claims that the energy companies agreed not to compete in bidding for natural gas leases auctioned by the U.S.

The case is the Justice Department's first challenge to an anti-competitive bidding agreement for mineral rights leases, according to the agency.

“Today’s unprecedented antitrust enforcement action involving illegal bidding at Bureau of Land Management auctions, demonstrates the U.S. government’s resolve to ensure there is...
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