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Article: TXU Corp. Agrees to Settle Shareholder Class Action Litigation.
- Article from:
- PR Newswire
- Article date:
- January 21, 2005
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TXU Corp. announced today that it reached a comprehensive settlement regarding the consolidated amended securities class action lawsuit initially filed against the company in October 2002. The agreement, in which TXU Corp. denies any liability, includes a one-time payment of $150 million to the class members, which are purchasers of TXU Corp. securities between April 26, 2001 and October 11, 2002, and, subject to Board of Directors approval, the adoption of certain corporate governance initiatives.
TXU Corp. has reached agreement with certain of its directors' and officers' insurance carriers for the payment of $66 million of the settlement amount and expects to ...