DETROIT (CN) – CMS Energy Corp. and its affiliates conspired to manipulate the price of natural gas, resulting in higher prices for businesses and industries in Wisconsin, a class action claims in Federal Court. Traders and their companies, including CMS Energy, allegedly overstated prices to reporting firms.
“This pervasive false reporting in the natural gas market fed into the marketplace over and over again,” the lawsuit states.
Plaintiffs include Arandell Corp., Merrick’s Inc., Sargento Foods, Ladish Co., Carthage College and Briggs & Stratton Corp.
The class members seek an award of three times their actual damages.