A new class action lawsuit was filed on behalf of deceased members of South River Electric Membership Corporation, based in Dunn, N.C. The complaint centers around the electric cooperative’s practice of discounting the capital credits of estates to present value, a common practice by many cooperatives.
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.
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