A US judicial panel is expected to make a decision in a matter of days on where the consolidated lawsuits by US trading firms against oil giants BP, Shell and Statoil will be heard… The lawsuits followed the European Commission’s investigation into the oil majors for alleged price manipulation back in May. BP, Shell and Platts declined to comment.
by Suzie Neuwirth: October 9, 2013, 2:28am
A US judicial panel is expected to make a decision in a matter of days on where the consolidated lawsuits by US trading firms against oil giants BP, Shell and Statoil will be heard, City A.M. understands.
Around ten plaintiffs, including Chicago-based commodity trading house Prime International Trading, individually sued the oil majors earlier in the year for alleged manipulation of oil prices by relaying false information to price reporting agency Platts, dating back to the year 2000 until the present.