April 15, 2005

Westar Energy Settles

Westar Energy, Inc. (NYSE: WR), a Topeka-based electric utility, has announced the preliminary settlement of the securities class action (and a related derivative suit) pending against the company in the D. of Kansas. The case, originally filed in 2002, alleges that Westar misled investors concerning a proposed separation of its electric utility operations from its unregulated businesses. The settlement is for $32.5 million, with all but $1.25 million being paid by insurance.

Posted by Lyle Roberts at April 15, 2005 7:45 PM | TrackBack
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