Allegheny Energy Inc.

Shareholders filed several class action lawsuits against the utility company regarding the purchase of Merrill Lynch & Co.'s energy trading unit. "The 14 lawsuits, which had been consolidated before the U.S. District Court in Maryland, alleged that Allegheny Energy violated federal securities laws by failing to disclose weaknesses in the energy marketing and trading business that it purchased from Merrill Lynch, as well as other internal control and accounting deficiencies." Allegheny has agreed to pay shareholders a $15.05 million class action settlement. (Sep-29-05) [PITTSBURGH BUSINESS JOURNAL]