Allegheny Energy Securities MDL Powers Off

Law360, New York (June 26, 2007, 12:00 AM EDT) -- The multidistrict class action suit against Allegheny Energy Inc. finally shut down on Monday, after Judge James K. Bredar flipped the switch on all litigation over the power company's thorny purchase Global Energy Markets in 2001.

Bredar of the U.S. District Court for the District of Maryland approved the final settlement between Allegheny and its ERISA plaintiffs, the last piece of litigation standing in the securities class action suit.

Under the agreement, class members, who were participants and beneficiaries of Allegheny's retirement plan, will received $4...
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