Louis Dreyfus Unit Strikes $7.4M Deal To End FERC Probe

Law360, Los Angeles (February 7, 2014, 4:56 PM EST) -- A unit of commodities giant Louis Dreyfus Group agreed Friday to pay $7.4 million to settle a dispute with the Federal Energy Regulatory Commission, which accused the company of violating electric energy market manipulation prohibitions in North Dakota.

Louis Dreyfus Energy Services LP neither admitted nor denied allegations that it placed virtual trades in North Dakota with a regional transmission group to sway the value of its financial transmission rights from November 2009 to February 2010, but it will disgorge $3.3 million and pay a civil...
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