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Customers Purchasing Competitive Gas Supply Entitled To Class Action Settlement Funds

March 30,2017



Settlements have been reached with certain defendants in a series of class action lawsuits involving natural gas purchasing in Kansas, Missouri, and Wisconsin during the period from January 1, 2000 to October 31, 2002

The settlements create a total settlement fund of $42.8 million in cash, plus any interest accrued, before court-approved expenses and attorneys' fees. A court has preliminarily approved an allocation of those funds to class members in Kansas, Missouri, and Wisconsin based primarily on the volume of natural gas sold in each state and differences in the claims and remedies available in each state. Before deductions for attorneys' fees and expenses, the settlement fund is allocated as follows: $20,522,000 to the Wisconsin Class; $14,089,600 to the Kansas Class; and $8,188,400 to the Missouri Class.

Lawsuits had alleged that certain companies involved in the production, marketing, or sale of natural gas engaged in an unlawful conspiracy to manipulate the price of natural gas. Plaintiffs further claimed that commercial and industrial purchasers of natural gas who purchased natural gas other than from utilities or local distribution companies and for their own use or consumption in Kansas, Missouri, or Wisconsin may recover for the effect that the alleged conspiracy had on the prices of the natural gas they purchased. Plaintiffs alleged that, as a result of the unlawful conspiracy, they and other purchasers paid more for natural gas than they would have absent the conspiracy.

The settling defendants deny plaintiffs' claims.

Customers included in the settlements are:

In the State of Kansas: All industrial and commercial direct purchasers of natural gas for their own use or consumption during the period from January 1, 2000 through October 31, 2002, and which gas was used or consumed by them in Kansas. Excluded from the Class are (a) entities that purchased natural gas for resale (to the extent of such purchase for resale); (b) entities that purchased natural gas for generation of electricity for the purpose of sale (to the extent of such purchase for generation); (c) defendants and their predecessors, affiliates and subsidiaries; (d) the federal government and its agencies; and (e) Reorganized FLI, Inc. (f/k/a Farmland Industries, Inc.). For purposes of this Kansas Settlement Class definition, a "direct purchaser" means an industrial or commercial entity that bought natural gas for its own use or consumption directly from any of the Defendants, or from a seller other than a local distribution company.

In the State of Missouri: The settlement class includes industrial and commercial direct purchasers of natural gas for their own use or consumption during the Relevant Time Period, and which gas was used or consumed by them in Missouri. Excluded from the Class are (a) entities that purchased natural gas for resale (to the extent of such purchase for resale); (b) entities that purchased natural gas for generation of electricity for the purpose of sale (to the extent of such purchase for generation); (c) defendants and their predecessors, affiliates and subsidiaries; (d) the federal government and its agencies; and (e) Reorganized FLI, Inc. (f/k/a Farmland Industries, Inc.). For purposes of this Missouri Settlement Class definition, a "direct purchaser" means an industrial or commercial entity that bought natural gas for its own use or consumption directly from any of the Defendants, or from a seller other than a local distribution company.

In the State of Wisconsin: All industrial and commercial purchasers of natural gas for their own use or consumption during the period from January 1, 2000 through October 31, 2002, and which gas was used or consumed by them in Wisconsin. Excluded from the Class are (a) entities that purchased natural gas for resale (to the extent of such purchase for resale); (b) entities that purchased natural gas for generation of electricity for the purpose of sale (to the extent of such purchase for generation); (c) entities that purchased natural gas from entities that sold natural gas at rates approved by the Wisconsin Public Service Commission (to the extent of such purchases at such approved rates); (d) defendants and their predecessors, affiliates and subsidiaries; (e) the federal government and its agencies; and (f) Reorganized FLI, Inc. (f/k/a Farmland Industries, Inc.).

Settlements have been reached with defendants: American Electric Power Company, Inc., AEP Energy Services, Inc., Coral Energy Resources, L.P. (n/k/a Shell Energy North America (U.S.), L.P.), Duke Energy Carolinas, LLC (f/k/a/ Duke Energy Corporation), Duke Energy Trading and Marketing, L.L.C., ONEOK, Inc., ONEOK Energy Services Company, L.P. (f/k/a ONEOK Energy Marketing & Trading Company, L.P.), and previously dismissed defendant Kansas Gas Marketing Company (collectively, the "Settling Defendants").

See www.NaturalGasAntitrustSettlement.com for more

Tags:
Natural Gas   Litigation   Kansas   Missouri   Wisconsin  

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