BP, Shell Say 2nd Circ. Order Unrelated To Oil Price Claim

Law360, New York (February 16, 2017, 1:39 PM EST) -- BP PLC, Royal Dutch Shell PLC affiliates and others on Wednesday urged a New York federal judge to toss multidistrict litigation led by a group of derivatives traders alleging market manipulation, saying a recent Second Circuit decision has no bearing on the case.

The traders are accusing a slew of energy companies and others of manipulating the price of North Sea Brent crude oil and Brent crude oil futures. The traders earlier in February told U.S. District Judge Andrew L. Carter Jr. that a recent Second...
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