Counsel for American Electric Power (AEP) retained Cornerstone Research to evaluate plaintiffs’ claims that alleged false reporting of natural gas prices by AEP and other natural gas trading firms led to artificial natural gas prices traded on NYMEX.
Retained by Hogan & Hartson
Counsel for American Electric Power (AEP) retained Cornerstone Research to evaluate plaintiffs’ claims that alleged false reporting of natural gas prices by AEP and other natural gas trading firms led to artificial natural gas prices traded on NYMEX. Our expert’s analysis deconstructed the plaintiffs’ experts’ claims of alleged false AEP reports by showing that almost nine out of ten alleged false reports were simply artifacts of the plaintiffs’ experts’ data mishandling.
AEP reached a settlement for a small fraction of the damage claims put forth by the plaintiffs’ experts.
On behalf of both AEP and Coral Energy Resources, our expert also opined that the plaintiffs’ model for assessing the alleged artificiality of NYMEX prices achieved its results only by ignoring key elements of the structure of the U.S. natural gas markets. She also established that, even assuming that the plaintiffs’ experts’ artificiality estimates were correct, their estimates of damages were not related to any potential harm suffered by any individual entity.
Shortly after our expert filed her report, AEP reached a settlement for a small fraction of the damage claims put forth by the plaintiffs’ experts.