Secured $16.75 Million Settlement with Optiver Resolving Alleged Oil and Gas Futures Manipulation
In re Optiver Commodities Litigation, 08-cv-06842 (S.D.N.Y)
The Firm was appointed co-lead counsel on behalf of a proposed class of plaintiffs who traded light sweet crude oil, heating oil, and gasoline futures contracts at allegedly manipulated prices. Plaintiffs alleged that the defendant, Optiver, a global proprietary trading fund, and other related persons, successfully implemented an unlawful trading scheme to manipulate the settlement prices of these three types of futures contracts traded on the NYMEX. The case ultimately settled for $16.75 million.
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