August 04, 2014
Arcadia Petroleum Ltd., Parnon Energy Inc. and others have agreed to pay $13 million to resolve the U.S. Commodity Futures Trading Commission's claims that they illegally manipulated the price of oil futures derivatives, according to court documents filed Monday in New York federal court.
May 29, 2014
A New York federal judge recently blocked various subpoenas in an ongoing oil market manipulation suit filed by the U.S. Commodity Futures Trading Commission, saying the evidence they seek to uncover could compromise a confidential informant's identity.
June 24, 2013
Shell Oil Co., Morgan Stanley Capital Group Inc. and others said Friday they shouldn't have to turn over information they gave federal investigators to plaintiffs in a proposed class action alleging oil traders Parnon Energy Inc. and Arcadia Petroleum Ltd. manipulated the crude futures market, saying the information contains trade secrets.
May 30, 2013
A New York federal judge said Thursday that a proposed class action alleging oil traders Parnon Energy Inc. and Arcadia Petroleum Ltd. manipulated the market in crude futures will move in parallel with a U.S. Commodity Futures Trading suit against the two.
April 26, 2012
A judge on Thursday refused to dismiss a U.S. Commodity Futures Trading Commission suit claiming Parnon Energy Inc. and Arcadia Petroleum Ltd. manipulated the market for crude oil, ruling that commodity trades at the heart of the commission's complaint are within its regulatory authority.
December 09, 2011
Arcadia Petroleum Ltd. on Friday pushed a New York federal judge to toss the U.S. Commodity Futures Trading Commission's lawsuit alleging it illegally manipulated the price of oil futures derivatives, saying the regulator does not have the authority to police that market.