Investor Says Alternate Energy Inflated Stock Price

Law360, New York (December 21, 2010, 2:30 PM EST) -- Alternate Energy Holdings Inc. has been hit with a putative class action claiming it illegally inflated its stock prices and hid the fact that one of its executives sold one million shares of the company’s stock in a three-month period.

Shareholder Lance Teague sued Boise, Idaho-based Alternate Energy, its CEO and a high-level executive in the U.S. District Court for the District of Idaho on Monday, four days after federal securities regulators accused the company of fraudulently raising millions of dollars for a $10 billion nuclear...
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