February 17, 2022
Energy-focused hedge fund Powhatan Energy has retreated into a Chapter 7 bankruptcy liquidation in Delaware, lugging along more than $26 million in Federal Energy Regulatory Commission market manipulation sanction liabilities but less than $53,000 in cash.
July 28, 2021
Williams Mullen has asked a Virginia federal court to let the firm drop a hedge fund client facing a $35 million market manipulation suit from the Federal Energy Regulatory Commission, saying the fund is due to run out of money by the end of the year and has made further representation "unreasonably difficult."
September 25, 2018
A Virginia federal judge on Monday said the Federal Energy Regulatory Commission didn't wait too long to pursue approximately $35 million in penalties and disgorgement against a Pennsylvania-based hedge fund over alleged electricity market manipulation, but put the case on hold to accommodate a potential appeal of her ruling.