Montana Power, Shareholders Reach $115M Deal

Law360, New York (October 3, 2009, 1:50 PM EDT) -- Montana Power Co. has agreed to pay $115 million to its former shareholders to settle a class action accusing the bankrupt company of securities violations in its asset transactions during its transition from an energy business to a telecommunications company in 2000.

During a joint status conference Friday in the U.S. District Court for the District of Montana, the parties revealed the terms of their settlement, which was reached on Aug. 5 with the assistance of a mediator and will be distributed among the approximately 113,000...
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