Ambit Energy Gets RICO, Rate Suit Thrown Out

Law360, New York (March 29, 2017, 9:43 PM EDT) -- An Illinois federal judge has granted summary judgment to natural gas supplier Ambit Energy Holdings LLC and tossed a proposed class action brought by a ratepayer who alleged the company broke its promises, jacked up rates and violated the Racketeer Influence and Corrupt Organizations Act, ruling the company's conduct did not constitute mail or wire fraud.

Customer Oleg Kostovetsky brought claims that needed to demonstrate Ambit participated in a scheme to defraud him and others, but that bar of wrongdoing wasn’t met, according to a March 10 opinion by District Judge Gary Feinerman that was unsealed last week. The rate increases...

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