Aquila settles class-action suit for $10.5M
Class Action News
[##_1L|1212522662.jpg|width="120" height="118" alt=""|_##]Aquila Inc. has agreed to settle for $10.5 million a class-action lawsuit that alleged the company should have recommended dumping its stock from employees' retirement funds during Aquila's risky boom years. "It's just more efficient for the shareholders for us to settle than to go through a protracted legal case," Aquila spokesman Al Butkus said Wednesday.
Aquila admitted no wrongdoing as part of the settlement, Butkus said. The company will record the $10.5 million charge in its second or third quarter, he said.
The proposed settlement was filed Monday with the U.S. District Court for the Western District of Missouri.
The suit was filed in late September 2004 in the U.S. District Court in Kansas City. A former employee sued the Kansas City-based company (NYSE: ILA) and its board of directors for promoting the company's stock as a "conservative" investment for participants in the company's retirement plan.
The class included more than 7,000 current and former employees who put Aquila stock into the company's retirement plan from 1999 to May 5, 2004.
A hearing on the settlement' s final approval has been scheduled on Nov. 13 before U.S. District Judge Dean Whipple.
Related listings
-
California Class-Action Lawsuit Filed against Microsoft
Class Action News 07/23/2007[##_1L|1061736673.jpg|width="120" height="138" alt=""|_##]Christine Moskowitz and Dan Wood found themselves the apparent victim of poorly crafted Xbox 360s, or so according to the complaint they filed in Federal Court in California. The class-action ...
-
U.S. District Court Final Approval of Settlement of Class Action
Class Action News 07/23/2007Copernic Inc., (the "Company"), (NASDAQ: CNIC), formerly Mamma.com Inc., previously announced on March 8, 2007, that an order by the U.S. District Court for the Southern District of New York in the consolidated securities class action was filed preli...
-
Sony Wants Class Action in Federal Courts
Class Action News 07/20/2007The Sony Electronics Corporation "removed" a class action lawsuit from California state court to federal district court on Tuesday. The lawsuit concerns defects to Sony's "Trinitron" televisions. Sony refuted the complaint but admitted that the amoun...
Is Now the Time to Really Call a Special Education Lawyer?
IDEA, FAPE, CHILD FIND and IEPs: The Individuals with Disabilities Education Act (IDEA) guarantees all children with disabilities to a free appropriate public education (FAPE). FAPE starts with a school’s responsibility to identify that a child has a disability (Child Find) and create an Individualized Education Program (IEP) to suit the needs of the child.
Forte Law Group is one of only a very few law firms within the state of Connecticut that is dedicated to exclusively representing families and children with special needs.
Parents need to be persistent, dedicated and above all else aware of the many services and accommodations that their child is entitled to under the law. As early as this point within your child’s special education, many parents will often find themselves in the situation asking, “is now the time to really call a special education lawyer?” Here are a few things to consider when asking yourself that question.