Settling Defendants
This website provides general information on a class action
lawsuit pending in the United States District Court, Southern District of New
York, In Re Natural Gas Commodity Litigation, Master File No. 03 CV
6186 (VM) and on the first settlement that affects the rights of all persons
who purchased, sold, or settled New York Mercantile Exchange
(“NYMEX”) Natural Gas contracts between June 1, 1999 and December
31, 2002 (the “Class Period”) in a lawsuit against the following
Settling Defendants:
Cinergy Marketing and Trading, L.P.; CMS Field Services (n/k/a
Cantera Gas Co., LLC); CMS Marketing Services & Trading Co. (n/k/a CMS
Energy Resource Management Co.); Cook Inlet Energy Supply, LLC; Duke Energy
Trading and Marketing, LLC; Dynegy Marketing & Trade (including West Coast
Power, LLC); Enserco Energy, Inc.; Entergy-Koch Trading, LP; e-prime, Inc.;
MidAmerican Energy Co.; Mieco, Inc.; ONEOK Energy Services Company, L.P. (f/k/a
ONEOK Energy & Marketing Company, L.P.); ONEOK, Inc.; Reliant Energy
Services, Inc.; Sempra Energy Trading Corp.; WD Energy Services, Inc.; Western
Gas Resources, Inc.; Williams Companies, Inc.; and Williams Power Company
(f/k/a Williams Energy Marketing and Trading Company) (“Settling
Defendants”).
A settlement has been reached between the Plaintiffs and the
Settling Defendants listed above. Please see the Notice of Proposed Partial
Settlement of Action and Hearing on Proposed Settlements, and Proof of Claim
(“Notice Packet”) on the link at the right.
This action alleges that the Settling and Remaining Settling
Defendants manipulated the prices of NYMEX natural gas futures and options
contracts during the Class Period by allegedly reporting inaccurate, misleading
and false trading information to trade publications. The Settling Defendants
have denied the allegations and deny any and all liability to the Plaintiff and
the Class, but have agreed to a Settlement of over 72 million dollars. The
Remaining Settling Defendants have recently agreed to a Settlement in the
amount of $28,087,500 (click on the “Remaining Settling Defendants”
link for further information).
A hearing was held on May 19, 2006, at 2 p.m. before the
Honorable Victor Marrero in Courtroom 905, United States District Courthouse,
New York, New York. The Court approved the Partial Settlements.
The time to file a Proof of Claim has expired, you must have
submitted a properly completed Proof of Claim and it must have been mailed to
the Settlement Administrator at the address listed in the Notice with a
postmark date of no later than September 26, 2006.
The time to file an objection has expired, you must have filed a
written objection as described in the Notice Packet on the link at the right to
be RECEIVED by Court and Counsel no later than May 3, 2006.
The time to exclude yourself has expired, you must have mailed a
written exclusion containing specific information to all the parties listed in
paragraph six of the Notice and it must be RECEIVED by April 26, 2006. Please
see the Notice for full details.
For further information including Settlement Agreements, Orders,
the Notice of Proposed Partial Settlement of Action and Hearing on Proposed
Settlements, and Proof of Claim, please click on the links at the right.
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