Shareholders Drop Suit Against French Utility Giant

Law360, New York (May 25, 2012, 8:17 PM EDT) -- Plaintiffs who accused French water utility multinational Veolia Environnement SA in a New York federal court shareholder class action of overstating financial results by using improper accounting practices on Friday agreed to the voluntary dismissal of their case.

U.S. District Judge Victor A. Marrero signed off on the stipulation of dismissal submitted by co-lead counsel for the plaintiffs, putting an end to the suit, which originally was filed Dec. 27 and later consolidated with a similar suit filed Jan. 20.

"After full and careful consideration of...
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