This action arises from Defendants’ unlawful combination, agreement and conspiracy to fix and restrain trade in, and intentional manipulation of North Sea Brent Crude Oil (“Brent Crude oil”) and the prices of Brent Crude oil futures contracts…: Defendants deliberately reported inaccurate, misleading and false information regarding Brent Crude oil prices to Platts…
By John Donovan
You may have seen reference on this website to the class action lawsuit launched in the USA by Prime International Trading, Ltd against Royal Dutch Shell, BP and Statoil, for alleged oil price-fixing.
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The proceedings were issued on 22 May 2013.
6. On May 17,2013, the U.K. Serious Fraud Office announced that it was “urgently reviewing” the European Commission’s allegations of price-fixing in the oil markets and determining whether to accept the case for “criminal investigation.” That same day, the United States Senate called for the U.S. Department of Justice to join the European Commission investigation.
78. Due to Defendants’ fraudulent concealment, any applicable statute of limitations affecting or limiting the rights of action by Plaintiff or members of the Class has been tolled during the period of such fraudulent concealment.