January 22, 2016
A New York federal judge on Thursday granted final approval to a $16.5 million deal that settles a class action that alleged two London-based companies violated antitrust laws by manipulating oil futures markets, awarding $8.49 million in attorneys' fees and expense reimbursements.
June 04, 2015
Two London-based companies accused in New York federal court of manipulating oil futures markets by hoarding oil and then selling it to reap huge profits on futures contracts agreed on Wednesday to pay $16.5 million to a class of traders affected by the scheme.
February 03, 2015
Oil traders Parnon Energy Inc. and Arcadia Petroleum Ltd. have asked a New York federal judge to rule in their favor in a class action alleging they manipulated the crude futures market by hoarding oil, arguing that the suit overstated their ability to influence the market.
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 31, 2011
An oil futures investor filed a proposed class action alleging price manipulation against oil traders Parnon Energy Inc. and Arcadia Petroleum Ltd. in New York on Thursday, two days after the U.S. Commodity Futures Trading Commission sued the companies for $150 million.