FirstEnergy, BNY Mellon Freed From Coal Plant Suit

Law360, New York (June 12, 2013, 6:03 PM EDT) -- FirstEnergy Corp. and the Bank of New York Mellon Corp. affiliates don't have to face allegations they cut an investor group out of the sale of a Pennsylvania coal-fired power plant because an appraisal of the plant's value was binding, a New York state judge ruled Wednesday.

Judge Charles E. Ramos said during a hearing in Manhattan that money damages weren't available in the case because the only remedy available under the various agreements governing the power plant's sale to the investor group known as DB...
To view the full article, register now.