Salomon Inc. said the Department of Energy...
Salomon Inc. said the Department of Energy was seeking $311 million for alleged violations of federal price controls by its Phibro energy subsidiary. Salomon said the complaint was over federal mandatory oil price regulations, which were revoked by President Reagan in January, 1981. Salomon said the violations were allegedly made by Phibro Corp. in 1978 and 1980, before it became part of Salomon. It said it believes that most of the allegations are totally without merit.
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