Traders Ask 2nd Circ. To Revisit Energy Co. Antitrust Suit

Law360 (September 13, 2019, 7:38 PM EDT) -- Derivatives traders that accused BP PLC and other energy companies of manipulating overseas oil prices asked the Second Circuit to revisit its decision to throw out their claims, arguing that the court made a factual mistake and that the Commodity Exchange Act allegations were wrongly dismissed.

The traders told the Second Circuit on Thursday that the panel simply got it wrong when it looked beyond the domestic nature of the transactions at issue and decided they were “predominantly foreign” and out of the reach of the CEA, asking the court to rehear the matter en banc. The petition also said the...

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