Xethanol Settles Securities Class Action

Law360, New York (December 3, 2007, 12:00 AM EST) -- Renewable energy company Xethanol Corp. has agreed to settle a consolidated class action lawsuit accusing it of deliberately misstating its ethanol production capabilities in order to raise stock prices.

The settlement was reached on Nov. 28 in West Palm Beach, Fla., the company said in a statement on Monday.

The terms of the settlement were not disclosed. The agreement is still subject to final negotiated writings executed by the parties and approval by the U.S. District Court for the Southern District of New York.

Xethanol announced...
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