GeoMet (GMET) Announces Favorable Ruling
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GeoMet, Inc. (Nasdaq: GMET) announces that a state court in Virginia has upheld its principal antitrust claims against CNX Gas Company LLC (NYSE: CXG), Consol Energy, Inc. (NYSE: CNX), and certain of their affiliates, which are defendants in GeoMet's lawsuit seeking $385.6 million in damages for alleged violations of the Virginia Antitrust Act and other state law claims.
The lawsuit, filed in 2007 by GeoMet and its subsidiaries, seeks damages from CNX for alleged efforts to monopolize the markets for production and transportation of coalbed methane in the Oakwood Field in southwestern Virginia.
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