FOR IMMEDIATE RELEASE
April 24, 2014
Contact: Barry Hammond
Phone: (713) 570-6000
Houston, Texas – On Tuesday, April 22, 2014, Barry M. Hammond, Jr. and Patel Hammond PLLC filed a lawsuit on behalf of Aspire Commodities, LP and Raiden Commodities, LP in the U.S. District Court for the Southern District of Texas against GDF Suez Energy North America, Inc. and others. The suit alleges the defendants have intentionally exploited ERCOT’s market rules and operations to manipulate outcomes in physical and financial commodities markets. T. Joseph Wendt and Stephen J. Dutton of Barnes & Thornburg LLP have been retained as Of Counsel by Aspire Commodities, LP and Raiden Commodities, LP in this suit.
You can view a copy of the lawsuit by clicking here.
Additionally, Raiden Commodities, LP filed a petition with the Public Utility Commission of Texas on April 21, 2014 requesting repeal of ERCOT’s “small fish” exemption – the heart of GDF Suez Energy North America, Inc.’s alleged commodities market manipulation schemes.
You can view a copy of the rulemaking petition by clicking here.
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This lawsuit has been covered in the following publications: