Reliant’s Trial Delayed During U.S. Appeal
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A federal judge delayed Reliant Energy Inc.’s criminal trial on charges that the company and four of its traders shut down power plants in June 2000 to manipulate electricity prices and avoid losses on energy trades.
U.S. District Judge Vaughn Walker in San Francisco put the trial, which was scheduled to start this week, on hold for at least a week after the government said it would appeal a ruling the judge made in Houston-based Reliant’s favor.
The ruling would “deprive the jury from seeing” evidence that Reliant took unfair advantage of market rules to manipulate energy prices, Assistant U.S. Atty. Haywood Gilliam told Walker. The U.S. filed a notice of appeal with the 9th U.S. Circuit Court of Appeals, Gilliam said.
All defendants have denied wrongdoing.
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