JACKSON, Miss. (AP) — Southern Co. says the U.S. Securities and Exchange Commission has ended its securities fraud investigation into whether the utility misled investors about progress at a Mississippi power plant and won't recommend any enforcement action.
The Atlanta-based parent of Mississippi Power Co. made the statement in a Friday securities filing. At the same time it announced that it has reached a deal with Mississippi regulators on how much customers should pay for the part of the Kemper County plant that burns natural gas. The company is absorbing more than $6 billion in losses after stopping work on converting coal into a synthetic gas and removing pollutants.
The company still faces lawsuits from shareholders, a former employee and a former business partner over claims that Southern lied about problems at the plant, concealing delays and overruns.
- No securities fraud case over Mississippi plant
- 5 plead not guilty in welfare fraud case in Mississippi
- Mississippi couple face federal financial fraud charges
- New charges in Mississippi pharmacy fraud allege $200M taken
- Mississippi couple pleads not guilty in $200M health fraud
- Beer for vote: Another arrest in Mississippi election fraud
- Mississippi probes 3 officers over possible timesheet fraud
- Another man pleads guilty in huge Mississippi pharmacy fraud
- Jurors find physician guilty in pharmacy fraud case
- Alabama doctor gets 5 years in health care fraud case