In a previous post, we discussed litigation against cooperatives involving their capital credit practices. That post contains a link to a summary discussing specific cases. One of those cases involved Carroll Electric Cooperative Corporation, an Arkansas electric cooperative. Earlier this month, the Supreme Court of Arkansas affirmed a lower court’s dismissal of the case.
Several electric cooperatives throughout the country have been the subject of class action lawsuits targeting their unretired capital credits. The lawsuits were filed by one or more members or former members against the cooperative and, in some instances, against directors and management. In this blog post, we discuss one non-legal measure to avoid such lawsuits and bolster coopertives’ defenses. We recommend education of cooperative management, employees, directors, and especially members.
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