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Wholesale Electricity Antitrust Cases
- Issue: Market manipulation
- Result: $1.066 billion in settlements
Wholesale Electricity Antitrust Cases I & II
Lieff Cabraser served as co-lead counsel in the private class action litigation against Duke Energy Trading & Marketing Reliant Energy, and The Williams Companies for claims that the companies manipulated California's wholesale electricity markets during the California energy crisis of 2000-2001.
Extending the landmark victories for California residential and business consumers of electricity, in September 2004, plaintiffs reached a $206 million settlement with Duke Energy Trading & Marketing, and in August 2005, plaintiffs reached a $460 million settlement with Reliant Energy, settling claims that the companies manipulated California’s wholesale electricity markets during the California energy crisis of 2000-01.
Lieff Cabraser earlier entered into a settlement for over $400 million with The Williams Companies.