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Dynegy Inc. has agreed to pay $468 million to settle a class action shareholder suit alleging the company misled investors about a natural gas deal wrongly used to boost cash flow. The lawsuit, led by the University of California, also alleged the company hid an $850 million loan from Citigroup to preserve its credit rating. The university's general counsel expressed satisfaction with the settlement, saying it maximized recovery to the class "while permitting Dynegy to continue its financial comeback."
April 18, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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