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CMS Agrees To $200M Settlement

Law360 (January 5, 2007, 12:00 AM EST) -- CMS Energy Corp. has agreed to a preliminary $200 million settlement that would resolve two class action securities suits stemming from allegedly false and misleading statements regarding “round-trip” energy trades made by a CMS subsidiary between 2000 and 2002.

CMS Energy and attorneys for the shareholders signed a memorandum of understanding, dated Dec, 28, which, if approved by the court, will resolve two suits currently pending in federal court in eastern Michigan, according to CMS.

Pursuant to the memorandum of understanding, CMS will shell out $123.5...
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