Posted by Eversheds Sutherland Coop Law
on Aug 28, 2013 in Corporate Governance
, Derivative Suits
, Patronage Capital
| Comments Off on Litigation Update on 14 Patronage Capital Cases in Eight States
Since 2009, at least 14 cases have been filed against electric cooperatives over patronage capital (or capital credits) in eight states: Alabama, Arkansas, Georgia, Missouri, New Mexico, North Carolina, South Carolina, and Texas. Sutherland has previously issued Legal Alerts regarding these cases—most are in active litigation, some have apparently settled (or are close to settling),...