Saturday, 25 April 2015
Last updated 10 hours ago
Nov 2 2007 | 11:46am ET
A federal judge yesterday denied an effort by collapsed hedge fund Amaranth Advisors to get one regulator off its back, but cautioned that agency that it would be “prudent” to back off.
U.S. District Judge Denny Chin in Manhattan denied Greenwich, Conn.-based Amaranth’s motion for a preliminary injunction against the Federal Energy Regulatory Commission. FERC charged that Amaranth, which blew up spectacularly last year, losing about $6 billion on bad natural gas trades, with market manipulation of those very same natural gas markets. The Commodity Futures Trading Commission has also charged Amaranth with market manipulation, based on substantially the same trades and evidence.
Judge Chin said he denied the motion because he lacked jurisdiction and because Amaranth had not met the requirements for an injunction. But he added that the agencies should “coordinate their efforts, at least to some degree.”
“I agree that it would be prudent for FERC to defer this lawsuit,” he wrote.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…