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Total SA Wins Antitrust Appeal Over Alleged Market Manipulation

Dec. 6, 2021, 7:36 PM

French energy giant Total SA and two subsidiaries secured their exit from antitrust litigation over their alleged scheme to inflate natural gas prices by manipulating a financial index, when a federal appeals court in Manhattan upheld a decision throwing out the case.

The U.S. Court of Appeals for the Second Circuit affirmed a ruling by Judge Lewis A. Kaplan, who let Total and one overseas business unit out of the case on jurisdictional grounds in July 2020 while dismissing the claims against a U.S. subsidiary on the merits.

In a two-page summary order, a three-judge Second Circuit panel said Dec. ...

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