TXU Shareholders Appeal Class Action Dismissal

Law360, New York (October 10, 2006, 12:00 AM EDT) -- Unhappy about the dismissal of their securities class action against Texan energy giant TXU Corp., shareholders on Friday appealed the district court’s decision to throw out the case.

The case was filed in the U.S. Court of Appeals for the Fifth Circuit by Flaherty & Crumrine Preferred Income Opportunity Fund Inc., Flaherty & Crumrine Preferred Securities Income Opportunity Fund Inc., Flaherty & Crumrine Preferred Income Fund Inc. and Stan Haiduk.

Flaherty & Crumrine, a management investment company, first filed the lawsuit against TXU Corp. in September...
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