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Case Status:    SETTLED
On or around 02/09/2006 (Date of order of final judgment)

Filing Date: April 26, 2002

By the Order and Final Judgment entered on February 9, 2006, the settlement is approved and the action is dismissed with prejudice. Further, the Plan of Allocation is approved, and Plaintiffs’ Counsel are awarded 28.544% of the Gross Settlement
Fund in fees and in reimbursement of expenses, comprised of $128,790.13 in
expenses and $159,668.15 in fees, for a total of $288,458.28.

In a press release dated October 29, 2005, Aquila Inc. has settled five securities class-action lawsuits for $1 million in cash, ending litigation over its buyback of shares in early 2002. U.S. District Judge Fernando Gaitan Jr. on Friday gave preliminary approval to the settlement and set a Feb. 3 hearing to determine whether the settlement is fair, reasonable and adequate.

According to the docket posted, on March 23, 2005, the Court entered the Order denying plaintiffs’ motion for partial summary judgment and granting the defendants’ motion for summary judgment. On April 22, 2005, the plaintiff filed a notice of appeal. On July 28, 2005, the Court entered the Order of the U.S. Court of Appeals granting the Appellants' unopposed motion to remand to the District Court to consider settlement approval. The case was remanded to the United States District Court for the limited purpose of permitting the District Court to consider the parties' proposed settlement of litigation. On October 4, 2005, a Stipulation and Agreement of Settlement was filed, and on October 28, 2005, the Court entered the Order preliminarily approving the class action settlement.

The original complaint charges Aquila, certain of its officers and directors, and UtiliCorp United Inc. ("UtiliCorp"), the Company's controlling shareholder, with making material misstatements and omissions concerning Aquila's planned formation of an Audit Committee consisting of independent directors to, among other things, monitor transactions between UtiliCorp and Aquila. Defendants' failure to timely appoint an independent Audit Committee ultimately permitted UtiliCorp to commence a tender offer pursuant to which it bought back all of the outstanding Aquila Class A common stock at an non-negotiated and less than optimum price per share.

COMPANY INFORMATION:

Sector: Utilities
Industry: Electric Utilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ILA
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: W.D. Missouri
DOCKET #: 02-CV-00388
JUDGE: Hon. Fernando J. Gaitan, Jr.
DATE FILED: 04/26/2002
CLASS PERIOD START: 04/25/2001
CLASS PERIOD END: 12/03/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Cauley Geller Bowman Coates & Rudman LLP (Little Rock, AR)
    P.O. Box 25438, Cauley Geller Bowman Coates & Rudman LLP (Little Rock, AR), AR 72221-5438
    501.312.8500 501.312.8505 ·
  3. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
  4. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  5. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
COURT: W.D. Missouri
DOCKET #: 02-CV-00388
JUDGE: Hon. Fernando J. Gaitan, Jr.
DATE FILED: 07/31/2003
CLASS PERIOD START: 04/25/2001
CLASS PERIOD END: 12/03/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Milberg Weiss Bershad & Schulman LLP (New York)
    One Pennsylvania Plaza, 49th Floor, Milberg Weiss Bershad & Schulman LLP (New York), NY 10119
    212.594.5300 212.868.1229 · info@milbergweiss.com
  3. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  4. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date