Constellation Energy Hit With ERISA Class Action

Law360, New York (October 28, 2008, 12:00 AM EDT) -- Energy company Constellation Energy Group Inc. has been hit with a proposed class action accusing it of making misleading statements and relying on dubious accounting to inflate its stock prices, ultimately hurting participants in its retirement plan.

The complaint was filed Friday in the U.S. District Court for the District of Maryland by Constellation employee Stacy Coombs, on behalf of a proposed class of anyone who belonged to the company's retirement plan and had investments in the company's stock between Jan. 30 and the complaint....
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