Sunday, 30 April 2017
Last updated 1 day ago
Dec 21 2011 | 2:09am ET
Amaranth Advisors' settlement of a class-action lawsuit has been approved by a federal judge.
The collapsed hedge fund will pay $77.1 million to end the lawsuit, accusing it of market manipulation. The pact was approved on Dec. 15 by U.S. District Judge Shira Scheindlin, with a hearing on final approval scheduled for March 27.
Amaranth imploded in 2006 after losing $6.6 billion in the natural gas markets. The firm had already settled with the Commodity Futures Trading Commission.