Southern Company Class Action over Kemper Power Plant by yallpolitics on Scribd

Lawsuit alleges Southern Co. wasn’t truthful about progress at Kemper

The complaint alleges that Southern Co. defendants “made false and misleading statements and/or failed to disclose adverse information regarding the progress of the Kemper Plant, assuring investors that the project would be completed by the critical May 2014 deadline, even when cost overruns and other delays began to materialize.”

Southern Company common stock traded at artificially inflated prices during the class action period from 2012 to 2013, the suit claims. The price of stock “declined significantly” after Southern Co. announced its third quarter 2013 financial results and said the in-service date for Kemper would be delayed, the filing said.

Sun Herald