The U.S. District Court in the Southern District of New York dismisses a class action lawsuit alleging a large number of entities and individuals in a cartel case (Sea brent crude oil)

The U.S. District Court in the Southern District of New York recently dismissed a class action lawsuit alleging, among other claims, that a large number of entities and individuals in the market for producing, refining and trading Brent crude oil (together, Defendants) manipulated the prices of Brent crude oil and Brent crude oil futures and other derivatives contracts traded on the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE Futures Europe), in violation of Sections 6(c)(1) and 9(a) of the Commodity Exchange Act (CEA), 7 U.S.C. §§ 1-26 (2012 & Supp. I-III), and engaged in anticompetitive behavior, in violation of the Sherman Act, 15 U.S.C. §§ 1-7 (2012). In re N. Sea Brent Crude Oil Futures Litig., No. 13-md-02475 (ALC), 2017 WL 2493135 (S.D.N.Y. June

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Authors

  • Skadden, Arps, Slate, Meagher & Flom (New York)
  • Skadden, Arps, Slate, Meagher & Flom (Washington)

Quotation

Karen Hoffman Lent, Mark D. Young, The U.S. District Court in the Southern District of New York dismisses a class action lawsuit alleging a large number of entities and individuals in a cartel case (Sea brent crude oil), 8 June 2017, e-Competitions Bulletin June 2017, Art. N° 84410

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