Updated: July 05, 2011
Status: Ongoing Case
Labaton Sucharow is co-lead counsel in this lawsuit filed on behalf of a class of plaintiffs who traded light sweet crude oil, heating oil, and gasoline futures contracts at manipulated prices.
Plaintiffs allege that in March 2007, 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 is pending before the Honorable Loretta A. Preska in the Southern District of New York.
The case is presently stayed pending mediation between Optiver and the Commodity Futures Trading Commission in an action alleging related claims.