The Challenges For CEA Price Manipulation Plaintiffs

By Mark Young, Jonathan Marcus, Gary Rubin and Theodore Kneller, Skadden Arps Slate Meagher & Flom LLP (April 26, 2017, 5:23 PM EDT) -- The U.S. District Court in the Southern District of New York recently dismissed a class action alleging that Total SA, Total Gas & Power North America Inc., and Total Gas & Power Ltd. (collectively, "Total") manipulated physical and financial natural gas prices in violation of the Commodity Exchange Act, 7 U.S.C. §§ 1 et seq., and engaged in monopolization of the physical natural gas market in violation of the Sherman Act, 15 U.S.C. § 2. Harry v. Total Gas & Power N. Am. Inc., — F.Supp. 3d— SDNY Mar. 27, 2017) (Total Gas). The decision highlights important hurdles private litigants routinely face in pursuing manipulation claims that government agencies do not....

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