Judge Holds Amaranth's Feet To Fire Of CFTC Claims

Law360, New York (May 23, 2008, 12:00 AM EDT) -- A federal judge has denied Amaranth Advisors LLC's attempt to have a suit brought by the U.S. Commodity Futures Trading Commission tossed out, leaving the regulatory organization free to pursue its claims that the defunct hedge fund's energy trading constituted market manipulation.

On Thursday, U.S. District Judge Denny Chin rejected Amaranth's and head trader Brian Hunter's bid to have the allegations thrown out, unmoved by the legitimate speculative trading defense and others trotted out by the defendants.

“From the totality of the circumstances surrounding defendants' trading...
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