Saturday, 30 July 2016
Last updated 20 hours ago
Nov 26 2008 | 3:11am ET
Collapsed hedge fund Amaranth Advisors and two former traders have settled one set of the market manipulation charges against them.
The Greenwich, Conn.-based firm, Brian Hunter and Matthew Donohoe reached a deal with the Federal Energy Regulatory Commission, filing it with the regulator yesterday. Chief Administrative Law Judge Curtis Wagner said that the settlement, “if approved by the commission, will resolve all claims asserted against all respondents.”
FERC last year accused Amaranth, Hunter and Donohoe of manipulating the natural gas markets. The hedge fund collapsed two years ago after losing about $6 billion on bad natural gas bets. When it filed its complaint, FERC sought $291 million in fines.
Amaranth and Hunter still face attempted market manipulation charges filed by the Commodity Futures Trading Commission.