Amaranth Advisors, the now-defunct multistrategy firm, and two former Amaranth traders are refuting government charges of unlawfully manipulating the energy markets. The defendants are also challenging the Federal Energy Regulatory Commission’s authority to bring the case.
Amaranth and the two traders, Brian Hunter and Matthew Donohoe, collectively face $291 million in fines from charges brought by FERC in July. That month, the Commodity Futures Trading Commission filed civil...