BP, Others Face Price-Fixing Claims In 1st Private Suit

Law360, New York (May 23, 2013, 4:41 PM EDT) -- BP PLC, Royal Dutch Shell PLC and Statoil ASA were accused Wednesday in New York federal court of manipulating prices for crude oil futures, the earliest known private antitrust action lodged after a European regulator raided several oil companies over similar allegations.

A putative class of commodities traders accused BP, Shell and Statoil of violating the Sherman Act and Commodity Exchange Act by manipulating prices of North Sea Brent Crude oil and Brent Crude oil futures contracts traded on the New York Mercantile Exchange and the...
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