- Acumen Powered by Robins Kaplan LLP®
- Affirmative Recovery
- American Indian Law and Policy
- Antitrust and Trade Regulation
- Appellate Advocacy and Guidance
- Business Litigation
- Civil Rights and Police Misconduct
- Class Action Litigation
- Commercial/Project Finance and Real Estate
- Corporate Governance and Special Situations
- Corporate Restructuring and Bankruptcy
- Domestic and International Arbitration
- Health Care Litigation
- Insurance and Catastrophic Loss
- Intellectual Property and Technology Litigation
- Mass Tort Attorneys
- Medical Malpractice Attorneys
- Personal Injury Attorneys
- Telecommunications Litigation and Arbitration
- Wealth Planning, Administration, and Fiduciary Disputes
Acumen Powered by Robins Kaplan LLP®
Ediscovery, Applied Science and Economics, and Litigation Support Solutions
March 22, 2023Benchmark Litigation Names Robins Kaplan 2023 Minnesota Law Firm of the Year
March 16, 2023Second Circuit Affirms Record $5.6 Billion Recovery in Antitrust Case
March 10, 2023Robins Kaplan Announces $28 Million Settlement in Case Against For-Profit College’s Directors & Officers
March 29-30, 2023ACI Managed Care Disputes and Litigation
April 3, 2023Conference of Tribal Lending Commissioners
April 11-13, 2023Mass Torts Made Perfect Seminar
March 13, 2023The Antitrust Case that Could Reshape Professional Golf
February 22, 2023A World Without Noncompetes: Protecting Confidential Information and Trade Secrets
February 7, 2023When Monkey Business Slips Into Trademark Infringement
September 16, 2022Uber Company Systems Compromised by Widespread Cyber Hack
September 15, 2022US Averts Rail Workers Strike With Last-Minute Tentative Deal
September 14, 2022Hotter-Than-Expected August Inflation Prompts Massive Wall Street Selloff
Find additional firm contact information for press inquiries.
Find resources to help navigate legal and business complexities.
Robins Kaplan LLP Named Co-Lead Counsel in Antitrust Class Action Against Total Gas and Power North America, Inc.
April 26, 2016
New York, NY—April 26, 2016 — National law firm Robins Kaplan LLP® announced today that it has been named Co-Lead Counsel, along with three other law firms, in an antitrust and commodities manipulation class action against Total Gas & Power North America, Inc. (TGPNA). The class action lawsuit stems from the Federal Energy Regulatory Commission’s (FERC) preliminary determination on September 21, 2015 that TGPNA, along with its traders and supervisors, manipulated the prices of natural gas in the southwest United States between June 2009 and June 2012.
Subsequently, the U.S. Commodity Futures Trading Commission also issued an order finding that TGPNA and one of its traders attempted to manipulate natural gas futures prices by manipulating the monthly index settlement prices of natural gas at major trading hubs in the southwest United States in violation of the Commodity Exchange Act—and imposed a $3.6 million civil penalty upon them.
Plaintiffs, who include persons and entities who purchased physical natural gas as well as natural gas futures and other derivative natural gas contracts ("NG Contracts"), allege that TGPNA effectuated its manipulative scheme by buying or selling large volumes of fixed-price natural gas at major trading hubs before and during bid-week (i.e., the last five business days in a month) to benefit its related financial positions in NG Contracts. Plaintiffs allege that although TGPNA had no material customers, physical assets, or transportation available near these hubs, and thus did not have any legitimate business need to engage in these transactions, its fixed-price trading during certain bid-weeks accounted for a substantial percentage of the total market by volume at these hubs. By reporting these uneconomic transactions to natural gas index publishers, TGPNA, according to the Plaintiffs’ allegations, moved these indices in a direction which benefited its financial position in NG Contracts.
"Our clients allege that by monopolizing the fixed-price natural gas market at major trading hubs, TGPNA’s largely uneconomic trades were designed to, and did, affect the monthly index settlement prices in a direction that would benefit TGPNA’s financial positions in NG Contracts, including natural gas futures contracts, basis swaps, and index swaps," said Kellie Lerner, partner at Robins Kaplan. "Consequently, our clients allege that, as a result of TGPNA’s allegedly unlawful manipulative and anticompetitive conduct, other natural gas market participants traded NG Contracts at artificial prices."
Robins Kaplan partner Hollis Salzman, as well as of counsel Bernard Persky and associate David Kurlander, are representing the plaintiffs.
The case is Anastasio v. Total Gas & Power North America, Inc. et al. It is pending in the United States District Court for the Southern District of New York before Judge John G. Koeltl.
If you are interested in having us represent you, you should call us so we can determine whether the matter is one for which we are willing or able to accept professional responsibility. We will not make this determination by e-mail communication. The telephone numbers and addresses for our offices are listed on this page. We reserve the right to decline any representation. We may be required to decline representation if it would create a conflict of interest with our other clients.
By accepting these terms, you are confirming that you have read and understood this important notice.