Dynegy Inc. DYN Securities Stock Fraud

Company:	Dynegy Inc.
Ticker Symbol:	DYN
Class Period:	Sep-2-11 to Mar-9-12
Date Filed:	Apr-25-12
Lead Plaintiff Deadline:	Jun-24-12
Court:	Southern District of New York
Allegations:

New York, NY: A securities class action lawsuit has been filed in the United States District Court for the Southern District of New York, on behalf of all persons who purchased Dynegy Inc. ("Dynegy" or the "Company") common stock between September 2, 2011 and March 9, 2012 inclusive (the "Class Period").

The complaint alleges that defendants knew or recklessly failed to inform investors that Dynegy's wholly-owned subsidiary fraudulently transferred direct ownership in one of Dynegy's indirectly owned subsidiaries directly to Dynegy.

On March 9, 2012, a bankruptcy examiner disclosed that Dynegy improperly acquired direct ownership of the indirectly owned subsidiary through a fraudulent transfer. This news caused Dynegy stock to drop approximately 35% by the close of the business day. Then, on April 4, 2012, Dynegy announced that it had resolved the Company's disputes with major creditors. On this news, Company stock plummeted by over 25%, closing at $0.39 per share.

On April 5, 2012, Dynegy received a notice from the New York Stock Exchange ("NYSE") that the Company failed to comply with the NYSE's continued listing standard. Unless Dynegy's stock regains values above $1 per share for any consecutive 30-day trading period, it will be delisted in six months from the notification date. Dynegy closed at $0.33 on April 24, 2012.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Dynegy Inc. DYN Securities Fraud Legal Help

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Published on Apr-25-12