Coral Settles Charges of Submitting False Data
- Share via
Coral Energy Resources, Royal Dutch/Shell Group’s Houston-based energy trading company, will pay $4 million to settle charges by federal regulators that it submitted inaccurate information in a probe of the Western U.S. energy crisis of 2000 and 2001.
Coral in 2002 told the Federal Energy Regulatory Commission it did not report false data to energy price index publishers, the commission said. In July 2004, Coral agreed to pay $30 million to settle U.S. Commodity Futures Trading Commission charges that it submitted false natural gas prices to publishers.
Shell’s shares rose 48 cents to $63.81 on the NYSE.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
