Southern Co. To Pay $87.5M To End 'Clean Coal' Investor Suit

Law360 (September 9, 2020, 5:07 PM EDT) -- Southern Co. has agreed to pay $87.5 million to settle claims it misled shareholders about a botched plan to build a "clean coal" plant in Mississippi, according to a settlement agreement filed in Georgia federal court.

Class representatives Roofers Local No. 149 Pension Fund and Monroe County Employees' Retirement System asked the court Tuesday to sign off on the deal. The representatives told the court the payout is an "excellent result for the class." According to the filing, class counsel Robbins Geller Rudman & Dowd LLP intends to ask the court for $27 million of the settlement to go toward attorney...

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