NEW YORK, May 27 (UPI) -- Two oil trading companies and traders were sued in federal court in New York for allegedly manipulating crude oil prices on the NYMEX, a lawsuit states.
Derivatives trader Stephen Ardizzone filed a class action suit in the U.S. District Court for the Southern District of New York against Parnon Energy and Arcadia Energy and two trade directors, Nicholas Wildgoose and James Dyer. The suit claims they manipulated crude oil prices on the New York Mercantile Exchange before the global financial collapse.