BigClassActions.com

CMS Energy



New York, NY: Shareholders filed a class action lawsuit related to fake trades made by a former Texas subsidiary in 2000 through 2002.The class claimed CMS lied about financial conditions by including round-trip energy trades in its financial results. CMS and lawyers for the shareholders signed a memorandum of understanding where CMS will make a $123.5 million payment plus interest for the settlement and its insurers will pay $76.5 million. (Jan-05-07) [REUTERS: CMS ENERGY MOU]


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