Powhatan eyes partial dismissal of market manipulation charges as time-barred

摘要

Powhatan Energy Fund and others accused of manipulating PJM Interconnection's electricity markets in 2010 last week asked a federal district court to partially dismiss the US Federal Energy Regulatory Commission's market manipulation charges against them, arguing that only four days of the alleged 64-day manipulation period were within the statute of limitations. The February 28 filing with the US District Court for the Eastern District of Virginia in Richmond contended that FERC filed its "action too late to assert civil penalty claims for all but a handful of the days that make up the so-called 'manipulation period.'"