Morgan Stanley acted as the middle man between KeySpan and Astoria, entering into derivative contracts with each corporation in order to assure payment to KeySpan despite the revenues it made on its electricity. The U.S. asserts that this limited the competition that would otherwise exist in the market. The U.S.'s complaint alleged that these contracts allowed Morgan Stanley to earn approximately $21.6 million in net revenue on its contracts with KeySpan and Astoria. The U.S. and Morgan Stanley eventually agreed to a settlement in which Morgan Stanley would pay $4.8 million to the U.S. Treasury and would not have to admit to violating the Sherman Act. 1 In its Competitive Impact Statement, the U.S. claimed that the settlement amount is enough to "prevent and restrain" future anticompetitive behavior of this type. 2 The U.S. further claimed that while the amount is but a small percentage of the revenues that Morgan Stanley made off of the derivatives contracts, it had to take into account litigation risks and costs when calculating the appropriate settlement amount.