Northeast Utilities Settles Nuclear Management
Northeast Utilities Co. has reached an agreement in principle with its shareholders who had claimed that certain NU trustees and officers had failed to manage prudently the affairs of the utility, causing problems for its nuclear power program.
The settlement calls for insurers of those trustees and officers named in the suit to pay NU $25 million, less attorney's fees. NU has agreed to certain corporate governance changes. The agreement was reached after more than eight months of mediation by retired U.S. District Judge Robert C.