Amaranth Settlement Approved

Dec 21 2011 | 3:09am 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.

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