Allegheny Plaintiffs Ask For Settlement Approval

Law360, New York (May 25, 2007, 12:00 AM EDT) -- Power company Allegheny Energy Inc. is just one step away from bringing an end to a long-running consolidated class action filed against the company over financial omissions and misstatements.

On Thursday, plaintiffs in the class action filed a motion for final approval of the $15 million settlement reached in the case in October 2005. If given court approval, the agreement will close the book on 14 class action lawsuits targeting Allegheny.

In addition to requesting approval of the settlement, attorneys for the plaintiffs also asked the...
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