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Settlement in Class Action Lawsuit Against Williams Cos.

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At a glance:

Williams Cos. will avoid a trial with a $290 million settlement in a class action lawsuit by shareholders. 
 
Those who bought Williams stock between July 2000 and July 2002 will recover some of their losses incurred when the stock declined. 
 
The allegations involved misleading statements concerning a debt Williams guaranteed for one of its units, and inflated earnings from long-term energy contracts. Fallout from the Enron scandal played a role as well. 
 
However unlike Enron, Williams Cos. has survived and still conducts business.

Settlement: $290 Million: Williams agrees to deal with investors

Tulsa World - 6/14/2006 7:05 AM

In what may be one of the largest shareholder settlements in Oklahoma history, Williams Cos. Inc. has agreed to pay $290 million to resolve a class-action lawsuit claiming that it misled investors and exaggerated earnings.
 
Under a preliminary settlement announced Tuesday by Williams, another $21 million would be paid by Ernst & Young, Williams' independent auditor.
 
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