Law360, New York (January 12, 2017, 7:13 PM EST) -- The Eleventh Circuit backed a nonprofit electrical distribution utility in central Alabama on Thursday in a putative class action brought by members who objected to its distributing excess revenue by crediting its members’ capital accounts instead of through cash payments, saying the method didn’t violate state law.
A three-judge panel affirmed the district court’s ruling dismissing an action brought by lead plaintiff Pamela Caver and two other members of the Central Alabama Electric Cooperative against the utility.
“Caver offers no persuasive reasoning, such as a statutory,...
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