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.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...