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Plaintiffs seek preliminary approval of $16.5 million settlement in crude oil commodity futures case

( June 3, 2015, 22:31 GMT | Official Statement) -- MLex Summary: Plaintiffs accusing Parnon Energy and Arcadia Petroleum of unlawfully manipulating the prices of New York Mercantile Exchange West Texas Intermediate crude oil futures have filed a motion seeking preliminary approval of a $16.5 million settlement with the companies. The plaintiffs purport to represent a class of anyone who purchased, sold or traded a West Texas Intermediate light sweet crude oil futures contract or an option on such a contract on the NYMEX during the period from Jan. 1, 2008 through May 15, 2008.See document below....

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