Business Torts

Read Energy & Utilities Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

News & Analysis as of May 21, 2013

Delaware Court Dismisses Securities Fraud Action Against Power Plant Executives

by Michael S. Gordon, Dean Razavi | Katten Muchin Rosenman LLP on 5/8/2013

The US District Court for the District of Delaware dismissed a class action for securities fraud against former officers and directors of a geothermal energy company, in which the plaintiffs alleged that the defendants had...more

REGULATORY: D.C. Regulatory: FERC Investigations in the Wake of D.C. Circuit’s Hunter Ruling

by King & Spalding on 4/15/2013

On March 15, the D.C. Circuit Court of Appeals dealt the Federal Energy Regulatory Commission (“FERC”) a major setback in its enforcement efforts by ruling that FERC had encroached on the exclusive jurisdiction of the...more

Court Rejects "Core Operations" Theory of Scienter in Battery Manufacturer Fraud Case

by Dean Razavi, Emily Stern | Katten Muchin Rosenman LLP on 3/27/2013

The District Court of Massachusetts dismissed Section 10(b)(5) claims against executives of a battery systems company, holding that plaintiffs could not rely on the theory that knowledge of the falsity of the statements at...more

Court Rules FERC Does Not Have Authority to Fine Trader for Manipulation of Futures Contracts

by Kenneth M. Rosenzweig, Tanja Samardzija | Katten Muchin Rosenman LLP on 3/26/2013

Pursuant to the Energy Policy Act of 2005, the Federal Energy Regulatory Commission (FERC) fined a natural gas trader $30 million for manipulating the settlement price for natural gas futures contracts on the New York...more

Energy Alert: FERC Hits Barclays Group and Four of Its Traders with Record $500 Million Penalty.

by Leonard, Street and Deinard on 11/2/2012

On October 31, the Federal Energy Regulatory Commission proposed a record penalty of almost $500 million against the Barclays Group and four Barclays traders, charging them with manipulating prices for electricity in the...more

Federal Court Concludes Much of SEC Claims Against Nicor Gas Executives Are Full of Gas

by Orrick - Securities Litigation and Regulatory... on 9/5/2012

A federal judge in Illinois hollowed out much of the SEC’s case against two former executives of Nicor Gas. SEC v. Fisher, et al., No. 07-4483 (N.D. Ill.) (Zagel, J.) (Order). Although the court allowed the SEC’s substantive...more

DISPUTE RESOLUTION: Securities Litigation: Securities Litigation and the Energy Sector by Paul R. Bessette, Michael J. Biles and...

by King & Spalding on 8/2/2012

Throughout the past ten years securities litigation has made front-page news in the energy sector. Federal securities class action filings against energy companies specifically have increased in the past three years. While...more

Here We Go Again: Another Attempt at Recovery for Energy Ratepayers

by Bracewell & Giuliani LLP on 1/13/2012

Another class action lawsuit has been filed against KeySpan Corporation (KeySpan) and Morgan Stanley Capital Group Inc. (Morgan Stanley), claiming damages for antitrust violations resulting from an allegedly illegal swap...more

FERC Issues $30 Million Penalty for Alleged Violations of Anti-Manipulation Rule

by Morgan Lewis on 4/30/2011

On April 21, 2011, the Federal Energy Regulatory Commission (FERC) issued an Order Affirming Initial Decision and Ordering Payment of Civil Penalty in connection with an Administrative Law Judge’s (ALJ) Initial Decision that...more

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