Alternate Energy Can't Shake Inflated Stock Action

Law360, New York (December 20, 2011, 1:28 PM EST) -- An Idaho federal judge on Monday denied Alternate Energy Holdings Inc.'s bid to dismiss a putative class action claiming it improperly used stock promoters and issued false press releases to artificially inflate its stock price, finding that investors had adequately pled causation.

U.S. District Judge B. Lynn Winmill rejected Alternate Energy's contention that the investors' arguments connecting the alleged misrepresentations and their losses were doomed because of intervening causes behind a share price plunge, including the purportedly “reckless conduct” of the U.S. Securities and Exchange Commission....
To view the full article, register now.




Case Information

Case Title

Teague v. Alternate Energy Holdings, Inc. et al

Case Number




Nature of Suit



B. Lynn Winmill

Date Filed

December 19, 2010

Law Firms


Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.