Thursday, June 3, 2010

Alcoa (NYSE:AA) Loses Luminant Case

It didn't take long for a jury to find in favor of Luminant in a case where Alcoa (NYSE:AA) had accused the energy company of breach of contract.

Once Luminant had rested their case, attorneys from the company had asked for a directed verdict, which was denied. It was the second time they had requested one.

Alcoa had been seeking $500 million in damages saying Liminant had manipulated electricity prices used for operations at their Rockdale plant. Officials from Luminant had denied the charges from Alcoa.

1 comment:

Anonymous said...

That's total bs, luminant is a bunch of thieves. The sad thing is this case only has 2-3 news articles writing about this story. This is some fiction turned reality straight out of "Atlas Shrugged." Luminant works for the government, so they don't get in trouble for price fixing.