Amaranth Settles Market-Manipulation Lawsuit

Oct 14 2011 | 7:51am ET

More than five years after it imploded, Amaranth Advisors has settled a class-action lawsuit accusing it of market manipulation.

The Greenwich, Conn.-based firm had been accused, both by the plaintiffs and the Commodities Futures Trading Commission, of attempting to manipulate the same natural gas markets that would turn against it in 2006, costing the firm $6.6 billion and its existence. But, according to a court order earlier this month, the plaintiffs and Amaranth have reached a tentative settlement.

U.S. District Judge Shira Scheindlin is set to hold a hearing on the matter at the end of next month.

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