Amaranth Seeks FERC Meeting Over Rejected Settlement

Apr 9 2009 | 1:47am ET

More than two years after its spectacular collapse, Amaranth Advisors wants to make a deal with regulators.

The Greenwich, Conn.-based firm, which lost more than $6 billion on bad natural gas bets in 2006, is seeking a private meeting with the Federal Energy Regulatory Commission. FERC sued Amaranth and two former traders in 2007, accusing them of market manipulation. The regulator is seeking a $291 million fine.

Amaranth, Brian Hunter and Matthew Donohoe requested the meeting in a March 27 letter. The move comes after FERC rejected a settlement negotiated by its agency staff in February, arguing that it was “not in the public interest.”

Terms of that settlement have not been disclosed.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of