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US: Wisconsin heads to SCOTUS in gas price-fixing dispute

 |  January 11, 2015

Wisconsin is seeking payment 15 years after Enron Corporation and other gas conglomerates were found to have illegally conspired to manipulate oil prices, say reports, and the case has landed in the Supreme Court.

The state says the collusion cost its companies $100 million extra in 2001 in natural gas than they had paid a year prior.

While a federal investigation lead to $350 million in settlement fines with gas traders and suppliers, Wisconsin has not seen any of those funds. The companies now seeking repayment include engine maker Briggs & Stratton, printer Arandell, and others.

The Supreme Court is scheduled to hear opening arguments Monday by the companies. At the heart of the dispute is whether federal or state antitrust regulation takes precedence.

The state argues that it should be able to recover damages under state antitrust law.

Full Content: Macro Insider

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