A Nevada federal judge recently took herself off a series of antitrust lawsuits. The cases allege that United States shale oil producers colluded with the Organization of the Petroleum Exporting Countries (OPEC) to artificially inflate fuel prices. The judge’s decision to recuse herself came as a result of her owning a “significant” amount of Exxon Mobil Corp. stock. Exxon Mobil is named as one of the defendants in these lawsuits.
Investors and itinerant litigants have shown increased interest in the machinations of the oil market. Many assert that the coordinated efforts of American oil producers and OPEC irrationally raised gasoline prices. Litigation surrounding these alleged antitrust violations has become more prolific recently, especially given the economic pressures induced by volatile crude oil pricing globally.
As of yet, it’s uncertain who will replace the recused judge or how her recusal might impact the progression of the lawsuits. The original, more detailed account of this evolving situation can be found on Law360’s website here.