Western Gas to settle lawsuit
Western Gas Resources has agreed to pay $5.95 million to settle a class action lawsuit.
Traders on the Nymex exchange sued the company, alleging it had manipulated the prices of natural gas futures in violation of the Commodity Exchange Act by reporting "inaccurate, misleading and false trading information" to publications.
Denver-based Western Gas has not admitted liability in the suit, Reuters reported.
If approved by the court, the settlement would conclude the matter against the company.
Western Gas said it would record a second-quarter charge of $3.7 million, or 5 cents per share, in connection with the settlement.