Shareholders tried to file a securities fraud class action lawsuit against the company for allegedly engaging in a fraudulent scheme to misrepresent its financial condition and artificially inflate its stock price. The case was filed on behalf of securities purchasers of TECO Energy, Inc. from October 30, 2001 through February 4, 2003. The United States District Court for the Middle District of Florida granted a motion by Teco Energy Inc. to dismiss the class action lawsuit. (Apr-03-06)
[TAMPA BAY BUSINESS JOURNAL]
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