Optiver Gets OK For $17M Crude Oil Manipulation Settlement

Law360, New York (June 23, 2015, 8:18 PM EDT) -- A New York federal judge on Monday approved a $16.7 million class action settlement between investors and Optiver Holding BV, resolving claims that the trading company manipulated oil and gasoline futures contracts over a 24-day period in 2007.

U.S. District Judge Loretta A. Preska made the settlement final in a written order, finding it was fair and reasonable. The deal settles allegations that Optiver was part of an illegal scheme to manipulate the market for crude oil, heating oil and gasoline.

The settlement covers anyone who purchased, held or sold Light Sweet Crude Oil, New York Harbor Gasoline or New York...

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