Judge OKs Dynegy’s Shareholder Settlement

A federal judge approved Dynegy Inc.’s $468-million settlement, announced April 15, of a shareholder lawsuit accusing the company of accounting misdeeds.

The agreement with plaintiffs led by the University of California was the ninth-largest settlement of a class-action securities fraud case in the U.S.

The settlement will be paid with $150 million from its directors’ and officers’ insurance policies, $250 million in cash and $68 million from the issuance of stock, Dynegy said in April.