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.

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