City, WG&L Sued Over MEAG Funds
Press release from the issuing company
Friday, November 19th, 2010
Plaintiffs contend that the city and WG&L violated terms of the Municipal Electric Authority of Georgia Competitive Trust Agreement when they steered money away from the rate payers in 2009.
Three Albany Water, Gas & Light Commission rate payers are seeking class action status in a lawsuit filed against the city of Albany and WG&L, claiming that they two entities knowingly violated terms of a trust agreement on how $70 million in revenues generated by rate payers would be dispersed.
The suit filed in Dougherty Superior Court Thursday afternoon seeks a temporary injunction against the city and WG&L to keep them from "further damaging the plaintiffs," in the case as the suit moves forward.


