On October 23, a panel for the U.S. Court of Appeals for the Second Circuit denied a rehearing petition after affirming the dismissal of a putative class action against Keyspan alleging violations of federal antitrust law and New York state statutory and common law. The claims were related to a swap agreement between KeySpan and co-defendant Morgan Stanley Capital Group concerning the New York City electric-generation capacity market, which the plaintiffs claimed created excess charges for the city’s retail electricity customers.
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates