Case Page

 

Case Status:    DISMISSED    
On or around 09/24/2003 (Date of order of final judgment)

Filing Date: April 17, 2003

According to the Company’s FORM 10-Q for the quarterly period ended September 30, 2003, several substantially similar cases were subsequently filed in the same court and were consolidated into one action. On Aug. 13, 2003, the court, acting upon a motion filed by the defendants, dismissed the action without prejudice. On Sept. 22, 2003, upon stipulation of the parties, the court entered a new order changing the dismissal of the case from without prejudice to with prejudice. Accordingly, this lawsuit has been concluded.

Several securities class action lawsuits were filed against Alliant Energy Corporation. The original class action shareowner lawsuit was filed against Alliant Energy, Erroll B. Davis, Jr., Thomas M. Walker and John E. Kratchmer. The amended consolidated complaint alleged that the defendants made false and misleading statements in relation to Alliant Energy's expected performance of its various non-regulated businesses.

The original complaint charges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of materially false and misleading statements to the market between January 29, 2002 to July 18, 2002. The complaint alleges that the Company falsely touted the performance of its non-regulated businesses and represented that those businesses would compensate for expected 2002 weakness in its utilities operations. The complaint further alleges that the Company also represented that its unregulated businesses were integral to the Company's operations and were key to the Company's expected annual growth rate of 7%-10%. Such statements were materially false and misleading when made, the complaint alleges, because defendants knew, or were reckless in not knowing, that the unregulated businesses were suffering from serious problems, that such businesses were a material drain on the Company overall and could not compensate for any weaknesses in the regulated businesses and that the Company could not meet its 2002 earnings targets by the results of its utilities businesses alone. On July 18, 2002, the Company announced that it was cutting its 2002 earnings expectations by over 35%. Investors, conditioned by defendants Class Period statements, reacted by selling-off the stock, which fell by 23% in one day, from $23.78 per share on July 18, 2002, to $18.22 per share on July 19, on unusually heavy trading volume. A few months after the end of the Class Period, the Company announced that it would sell many of its non-utility assets as part of an effort to re-focus its business around the Company's utilities operations.

COMPANY INFORMATION:

Sector: Utilities
Industry: Electric Utilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: LNT
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. Wisconsin
DOCKET #: 03-CV-0191
JUDGE: Hon. John C. Shabaz
DATE FILED: 04/17/2003
CLASS PERIOD START: 01/29/2002
CLASS PERIOD END: 07/18/2002
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. 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
  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. Much Shelist Freed Denenberg Ament & Rubenstein, PC

    800-470-6824 312-621-1750 ·
  5. Murray, Frank & Sailer LLP (Milwaukee)
    3181 South 27th Street, Murray, Frank & Sailer LLP (Milwaukee), WI 53215
    866.264.3995 414.482.8001 · info@murrayfrank.com
  6. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
  7. Spector Roseman & Kodroff (San Diego)
    1818 Market Street, Suite 2500, Spector Roseman & Kodroff (San Diego), PA 19103
    215.496.0300 215.496.6611 ·
No Document Title Filing Date
COURT: W.D. Wisconsin
DOCKET #: 03-CV-0191
JUDGE: Hon. John C. Shabaz
DATE FILED: 07/17/2003
CLASS PERIOD START: 01/29/2002
CLASS PERIOD END: 07/18/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Ademi & O'Reilly, LLP
    3620 East Layton Ave., Ademi & O'Reilly, LLP, WI 53110
    866-264-3995 414-482-8001 · inquiry@ademilaw.com
  2. 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
  3. Cauley Geller Bowman & Rudman, LLP (Boca Raton)
    197 South Federal Highway, Suite 200, Cauley Geller Bowman & Rudman, LLP (Boca Raton), FL 33432
    ·
  4. Lockridge, Grindal, Nauen P.L.L.P.
    Suite 301, 660 Pennsylvania Avenue Southeast, Lockridge, Grindal, Nauen P.L.L.P., DC 20003-4335
    202.544.9840 202.544.9850 ·
  5. 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
  6. 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 ·
  7. Much Shelist Freed Denenberg Ament & Rubenstein, PC

    800-470-6824 312-621-1750 ·
  8. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  9. Spector Roseman & Kodroff (San Diego)
    1818 Market Street, Suite 2500, Spector Roseman & Kodroff (San Diego), PA 19103
    215.496.0300 215.496.6611 ·
  10. Wechsler Harwood, LLP.
    488 Madison Avenue 8th Floor, Wechsler Harwood, LLP., NY 10022
    212.935.7400 212.753.3630 · info@whesq.com
No Document Title Filing Date
No Document Title Filing Date