In re Optiver Commodities Litigation, 08-cv-6842 (S.D.N.Y.)
On January 7, 2015, the Honorable Loretta A. Preska, Chief Judge of the United States District Court, Southern District of New York, granted Plaintiffs’ motion for preliminary approval of a proposed class action settlement of Plaintiffs’ claims that Optiver US LLC, Optiver Holding B.V., Optiver VOF, Christopher Dowson, Bastiaan van Kempen and Randal Meijer (collectively, “Defendants”) manipulated energy futures prices in violation of federal and state laws.
The Settlement provides for $16,750,000 in cash and no reversion of any settlement monies. The Settlement website can be found at www.nymextassettlement.com.
Members of the proposed settlement class, which is described below, should preserve their records of transactions in NYMEX Light Sweet Crude Oil, New York Harbor Heating Oil and New York Harbor Gasoline futures contracts:
All Persons that purchased, sold or held NYMEX Light Sweet Crude Oil, New York Harbor Heating Oil and New York Harbor Gasoline futures contracts at any time from March 2, 2007 through March 26, 2007, inclusive. Excluded from the Settlement Class are (i) members of the judiciary assigned to this case, including their immediate family members; (ii) Class Counsel and their employees; (iii) Defendants and any parent, subsidiary, affiliate, employee or agent of any Defendant, including Defendants’ counsel; and (iv) Opt Outs.
A Fairness Hearing will be held before Chief Judge Preska on May 19, 2015 at the United States District Court, Southern District of New York, United States Courthouse, 500 Pearl Street, New York, NY 10007.