LAWSUITS NEWS & LEGAL INFORMATION
Futures Trading
New York, NY: (Mar-19-08) The Commodity Futures Trade Commission brought charges against Energy Transfer Partners, a US-based interstate pipeline operator, naming the company, its affiliates, directors and employees as defendants. Sources close to the case stated that the two parties had reached a settlement agreement, resolving the issues that sparked off the legal proceedings.
Under the terms of the settlement agreement, Energy Transfer Partners will pay the Commodity Futures Trade Commission $10 million. In exchange, the commission will release all claims or causes of actions claimed by it in the suit. Sources on both sides said that as a result of the deal, the court has dismissed the suit and all pending claims brought by the commission. Jerry Langdon, Energy Transfer Partner's chief administrative and compliance officer, stated that the settlement resolves the matter, allowing them to focus on their business, without the distractions and costs of prolonged litigation. [ENERGY BUSINESS REVIEW: ETP REACHES SETTLEMENT WITH CTFC]
Published on Mar-20-08
Under the terms of the settlement agreement, Energy Transfer Partners will pay the Commodity Futures Trade Commission $10 million. In exchange, the commission will release all claims or causes of actions claimed by it in the suit. Sources on both sides said that as a result of the deal, the court has dismissed the suit and all pending claims brought by the commission. Jerry Langdon, Energy Transfer Partner's chief administrative and compliance officer, stated that the settlement resolves the matter, allowing them to focus on their business, without the distractions and costs of prolonged litigation. [
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