MAEM elected to settle with the CFTC to avoid the expense, distraction and risk of litigation and enable the company’s resources to remain fully focused on Chapter 11 emergence, said Doug Miller, Mirant’s general counsel. Under the settlement, MAEM neither admitted nor denied the allegations that its employees reported false information in an attempt to manipulate pricing.

The false reports submitted by MAEM included false price, volume and/or counterparty information concerning natural gas