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Energy companies accused of bid rigging and racketeering in US lawsuit
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A cybersecurity company filed a $110m lawsuit in New York this week, accusing the Spanish global energy company Iberdrola and its US subsidiary Avangrid of bid rigging and racketeering.
The 72-page federal court complaint outlines an elaborate scheme by Iberdrola executives to generate millions of dollars in wasteful equipment expenditures in order to turn a profit from its utility customers in New York, Connecticut and Maine.
The lawsuit further alleges that much of this equipment was never put
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