Allenergy Resolves Spat With Investors

Law360, New York (September 12, 2007, 12:00 AM EDT) -- Power company Allenergy has reached a settlement with shareholders that sued for alleged securities fraud, claiming they were lured into investing in the company by false promises.

Allenergy president Larry Sanford announced the settlement Tuesday, saying the company had already won the dismissal of the majority of claims in a summary judgment order last month. The terms of the settlement were not disclosed.

“As part of the settlement and dismissal, all existing disputes between the Plaintiffs and Allenergy were resolved in full. We are pleased by...
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