Finkelstein Thompson LLP ("FT") was one of the four Court-appointed lead counsel in In re Natural Gas Commodity Litigation, Master File No. 03 CV 6186, a class action alleging violations of the federal commodities laws by over twenty defendants.  After several years of vigorous litigation, FT and its co-counsel were able to recover over $100 million for the benefit of a class allegedly affected by this conduct.

The lawsuit alleged that defendants' unlawful conduct involved knowingly and deliberately reporting inaccurate, misleading and false trading information - including artificial volume and price information - to trade publications that compile and publish widely-followed indices of natural gas spot prices.  In addition, defendants allegedly engaged in a variety of fraudulent trade reporting strategies, including wash trades, whose purpose was to create the perception of increased liquidity and demand for natural gas, and thus to manipulate the spot prices of natural gas. 

In October 2005, the Court certified a Class comprised of all persons who purchased and/or sold NYMEX natural gas futures and options contracts between January 1, 2000 and December 31, 2002, excluding defendants in the Action, their employees, any parents, subsidiaries, or affiliates of the defendants, any entity in which any of the defendants has or had a controlling interest during the Class Period, and the legal representatives, heir, successors or assigns of any of the defendants. 

The District Court entered orders finally approving the settlements with the various defendants on May 24, 2006 and June 15, 2007.  The May 24 order is available here and the June 15 order is available here.