Northeast Utilities - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Northeast Utilities Conclusion: As reported by the Company’s FORM 10-K for the fiscal year ended December 31, 2000, the parties executed a settlement agreement and, on March 27, 2000, filed the agreement with the Federal court. On that date, the court also approved the form of the settlement notice to be sent to shareholder class members and set down a schedule for the mailing of the notice (May 10, 2000), the formal hearing to approve the settlement (July 24, 2000), and the date to file proof of claim forms (September 29, 2000). Any class member who wished to object to or opt-out of the settlement was required to do so in writing by July 5, 2000. On July 24, 2000, the court entered an Order approving the settlement which provides for the dismissal of Stepak v. NU et al, a related state court action. The time to take an appeal has expired and the judgment is final.

According to the same SEC filing, pursuant to a court order dated October 1, 1997, the six class actions separately filed against NU in 1996 were consolidated for pre-trial and trial purposes. The actions are based on various federal securities law and common law theories alleging misrepresentations and omissions in public disclosures related to the NU system's nuclear problems, which resulted in extended outages at Millstone and impacted the financial condition of NU and certain of its subsidiaries. These complaints represent classes of plaintiffs who purchased or otherwise acquired NU common stock from March 1994 to April 1996.

The original complaint, the class action suit filed by shareholder Rosalie Cronan in U.S. District Court for Connecticut, in Hartford, Jan. 29 , claims NU made "materially false and misleading statements" about the Millstone reactors in annual reports and filings to the Securities and Exchange Commission (Docket 397CV00189). NU intentionally failed to disclose major problems with the plants as part of a "scheme to artificially inflate" the price of common stock, Cronan charged.

INDUSTRY CLASSIFICATION:
SIC Code: 4911
Sector: Utilities
Industry: Electric Utilities

COMPANY/ISSUER NAME:	Northeast Utilities
COMPANY/ISSUER TICKER:	NU
COMPANY WEBSITE:	http://www.nu.com/

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Rosalie Cronan, et al. v. Northeast Utilities, Inc., et al.

COURT: D. Connecticut	DOCKET NUMBER: 97-CV-00189
JUDGE NAME: Hon. Robert N. Chatigny
DATE FILED: 01/29/1997	SOURCE: Business Wires
CLASS PERIOD START: 04/05/1994	CLASS PERIOD END: 04/04/1996
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Brenner, Saltzman & Wallman 271 Whitney Ave., Po Box 1746, New Haven, CT, 06507-1746y A (voice) 772.2600, (fax) , Stull, Stull & Brody (New York) 6 East 45th Street, New York, NY, 10017 (voice) 310.209.2468, (fax) 310.209.2087, SSBNY@aol.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT

Type:		Date on the document:

REFERENCE COMPLAINT

In re Northeast Utilities, Inc. Securities Litigation

COURT: D. Connecticut	DOCKET NUMBER: 97-CV-00189
JUDGE NAME: Hon. Alfred V. Covello
DATE FILED: 12/23/1997	SOURCE: Business Wires
CLASS PERIOD START: 04/05/1994	CLASS PERIOD END: 04/04/1996
TYPE OF COMPLAINT: First Consolidated
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Brenner, Saltzman & Wallman 271 Whitney Ave., Po Box 1746, New Haven, CT, 06507-1746y A (voice) 772.2600, (fax) , Law Firm of Harvey Greenfield 60 East 42nd Street, New York, NY, 10165 (voice) 212.949.5500, (fax) , Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY) One Pennsylvania Plaza, New York, NY, 10119-1065 (voice) 212.594.5300, (fax) , Stull, Stull & Brody (New York) 6 East 45th Street, New York, NY, 10017 (voice) 310.209.2468, (fax) 310.209.2087, SSBNY@aol.com Wolf Popper, LLP 845 Third Avenue, New York, NY, 10022-6689Ave (voice) 877.370.7703, (fax) 212.486.2093, IRRep@wolfpopper.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 5

DOCUMENTS FOR THE REFERENCE COMPLAINT
U.S. District Court Civil Docket
Type: Docket		Date on the document: 07/09/2001

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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