Securities SettlementsSouthern Co (NYSE:SO) Shareholder Lawsuit Settlement

Did you purchase Southern Co (NYSE:SO) stock between 04/25/2012 - 10/29/2013? If so, you may be entitled to compensation, Call 1-800-934-2921 or complete the form on this page for a free consultation
December 20, 2020

Our law firm is filing potential claims on behalf of shareholders of Southern Co (NYSE:SO) , stemming from a recent settlement of a shareholder lawsuit against the company.

Did you purchase Southern Co (NYSE:SO) stock between 04/25/2012 – 10/29/2013? If so, you may be entitled to compensation,
Call 1-800-934-2921 or complete the form on this page for a free consultation.

Our law firm is filing claims on behalf of Southern Co (NYSE:SO) shareholders stemming from the recent settlement of the shareholder lawsuit against the company. If you purchased Southern Co (NYSE:SO) during the class period above, contact our law firm to protect your rights.

Southern Co. has decided to pay $87.5 million to settle a class-action lawsuit brought by customers whose equity prices collapsed after it appeared to be a costly fiasco for a planned clean coal project in Mississippi. The preliminary settlement, filed in the U.S. on Tuesday, District Court for the Northern District of Georgia, pays up to 30 percent of the value of the settlement for legal fees, plus up to 1 million in fees. In compliance with the settlement clause, the proceeds will be paid to the insurance carrier’s directors and officers of Southern Co.

Southern Co. and its affiliate Mississippi Power operated the plant until October 2013, when the utilities disclosed that they would not remain under their $2.8 billion budget limit, on schedule and on budget. The value of Southern Co. shares dropped by more than $1.3 billion within two days of the announcement, according to the lawsuit. In January 2017, Southern Co., CEO Thomas Fanning and other top executives and directors were sued by the Monroe County Workers’ Retirement Fund and Roofers Local No. 149 who made significantly inaccurate and deceptive claims that falsely inflated stock values. Southern Co. demanded the dismissal of the suits, but a class of All people who bought or otherwise purchased Southern Co. common stock between April 25, 2012 and Oct. 30, 2013 was certified by District Judge William Ray last year and sustained damages.

Teams of attorneys from Jones Day in Atlanta and Latham & Watkins in Washington, D.C. are represented by Southern Co. Jones Day attorney Michael McConnell declined to disclose the settlement. In February, before Phillips ADR’s David Murphy, the motion for mediation said the matter was negotiated. Originally, the parties did not reach an understanding but maintained negotiations through Murphy. The motion claimed that the plaintiff’s attorney plans to demand lawyers’ compensation in an amount up to 30 percent of the Settlement Amount plus expenses in an amount not to exceed $1,000,000.00, plus interest on both amounts. This fee request is in line with similar fee awards granted in other class action cases.

Settlement of Southern Co (NYSE:SO) Shareholder Lawsuit

Southern Co (NYSE:SO) investors may be able to collect significant financial compensation for their losses. The recent settlement with the company has set aside potentially tens of millions of dollars for compensating shareholders.

Buy shares of SO? Southern Co (NYSE:SO) Shareholder Lawsuit Settlement. Contact us to protect your rights.

Did you purchase Southern Co (NYSE:SO) stock between 04/25/2012 – 10/29/2013? If so, you may be entitled to compensation,
Call 1-800-934-2921 or complete the form on this page for a free consultation.