Shareholders Sue TXU, Directors

Law360, New York (July 23, 2007, 12:00 AM EDT) -- Shareholders of energy company TXU Corp. have filed a proposed class action alleging that TXU and its directors misled investors in connection with a $45 billion buyout and merger by private equity firms Texas Pacific Group and Kohlberg Kravis Roberts and Co.

The complaint, filed Thursday in the U.S. District Court for the Northern District of Texas, alleges that Dallas-based TXU filed a false and misleading proxy statement with the U.S. Securities and Exchange Commission that did not fully disclose all information needed for shareholders to...
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