Dynegy Settles $1.6M Shareholder Class Action

Law360, Houston (April 16, 2013, 8:14 PM EDT) -- A Texas appeals court on Tuesday overturned a $1.6 million judgment in a shareholder class action alleging Dynegy Inc. directors tried to sell the electric utility below market value before its bankruptcy reorganization last year, citing a settlement the company reached.

The First District Court of appeals vacated a 2011 judgment in favor of Colleen Witmer and other shareholders who had claimed Dynegy directors twice tried to sell the company for less than its true value before restructuring through Chapter 11 last year.

Representatives for the...
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