Reliant Accuses Fund Of Exploiting Court Ruling

Law360, New York (January 29, 2007, 12:00 AM EST) -- Reliant Energy Inc. has filed a complaint asking a federal court in Texas to declare that the Houston-based energy provider can omit a stockholder proposal submitted by a hedge fund from its proxy materials.

The complaint seeking declaratory judgment was filed Monday in the U.S. District Court for the Southern District of Texas, and centers on a proposal and supporting statement submitted by hedge fund and Reliant stockholder Seneca Capital LP on December 18, 2006.

Reliant asks the court to declare that it may “properly omit”...
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