Judge Clears Way for Trial Over IPALCO Worker Claims Execs Dumped Stock

A federal judge has cleared the way for a trial over claims by former IPALCO employees that company executives dumped their stock in the utility before a merger. U.S. District Judge David F. Hamilton denied the power company's request to set aside the class action filed on behalf of some 2,000 former and current IPALCO workers. The lawsuit alleges the value of employees' 401(k) and retirement plans plummeted when Virginia-based AES Corp. acquired the Indianapolis utility in 2001.

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