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SK Energy, Vitol file reply in support of judgment against 'umbrella claims' in California gas price manipulation case

( July 14, 2022, 22:31 GMT | Official Statement) -- MLex Summary: SK Energy and Vitol told a US federal judge that plaintiffs can’t bring “umbrella claims” over alleged gasoline price-fixing because such claims fail to satisfy the proximate causation requirement because they arise from transactions over which the companies had no control, no input, and did not profit. “Plaintiffs’ third-party only claims in this case are far less direct than the claims rejected by […] precedents, both because defendants here are not alleged to have themselves controlled the relevant benchmark and because the plaintiffs here did not have contracts that incorporated the benchmark, rendering their claims ‘clearly insufficient to establish antitrust standing,’ ” they said in a reply in support of dismissal. See document below. ...

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