A PYMNTS Company

US: Gas cos agree to even steeper penalty, fine nearly doubled

By  |  April 22, 2013

Two of the nation’s largest natural gas companies have reportedly agreed to have fines issued by the US Department of Justice nearly doubled after the companies were implicated for a 2005 collusion scheme. According to reports, Gunnison Energy and SG Interests will pay $1 million to the DOJ in a revised deal that nearly doubles the original monetary damages. The two companies were found to have conspired to buy federal leases for lower prices. The original settlement was rejected by US District Senior Judge Richard P. Matsch, who described Gunnison as having “unrepentant arrogance.”

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Aspen Daily News

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.