A lawsuit accusing various companies of colluding to manipulate the Brent crude oil benchmark has expanded, adding Mercuria Energy Group and Hess Corp as defendants.
A group of investors is suing various companies, including Morgan Stanley and Vitol Group, for the alleged conspiracy; plaintiffs say the collusion lasted for more than a decade, artificially manipulating the cost of crude oil for more than half the planet.
More than one dozen lawsuits have been filed related to the charges.
Plaintiffs filed a new complaint earlier this week, reports say, that states, “by providing false or inaccurate information and engaging in false or sham trading, defendants undermined the entire pricing structure for the Brent crude oil physical and futures markets.”
Full content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI