Constellation Faces Another ERISA Class Action

Law360, New York (November 7, 2008, 12:00 AM EST) -- Constellation Energy Group Inc. has been hit with a new proposed class action by employees participating in its retirement plan who allege the company inflated its stock prices this year, partly by concealing its dependence on Lehman Brothers Holdings Inc.

The latest complaint was filed Thursday in the U.S. District Court for the District of Maryland by Constellation employee Stephen T. Metcalf. The suit contains most of the same allegations as another proposed class action, filed by another Constellation employee, in late October.

In addition to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.