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Violation Tracker Individual Record

Company: Parnon Energy Inc.
Penalty: $8,250,000
Year: 2016
Date: January 21, 2016
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Violation Description: Parnon Energy Inc. and Arcadia Petroleum Ltd together agreed to pay $16.5 million to settle litigation alleging they unlawfully manipulated the oil futures market. Court documents did not specify how much each would pay. Here we assume they each paid half of the total.
Level of Government: federal
Action Type: private litigation
Court: Southern District of New York
Civil or Criminal Case: civil
Case ID: 1:11cv3600
Case Name: In re: Crude Oil Commodity Futures Litigation
Private Lawsuit Resolution Type: settlement
Source of Data: (click here)
Link to PACER Case Docket (must be logged in): (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.