Stull, Stull & Brody Announces Order in the AEP 401(K) ERISA Class Action Litigation -- AEP


NEW YORK, Sept. 9, 2008 (GLOBE NEWSWIRE) -- Stull, Stull & Brody announced today that the United States District Court for the Southern District of Ohio, Eastern Division, has issued an order on Plaintiff's motion to class certification in the on-going ERISA 401(k) class action which it commenced against American Electric Power Co., Inc. (NYSE:AEP) ("AEP") in 2003. The class action was brought on behalf of all participants in AEP's 401(k) defined contribution retirement plan who purchased and/or held shares of the AEP Stock Fund at any time between December 9, 1998 and December 31, 2002. The Complaint has alleged that AEP and other fiduciaries of AEP's 401(k) plan negligently managed and administered the 401(k) plan and failed to disclose important information to the participants of the plan, including information about AEP's allegedly improper energy trading and reporting practices. The order, entered on September 8, 2008, denies Plaintiff's motion for class certification and directs further briefing on the issue of whether Plaintiff's claims brought under Section 502(a)(2) of ERISA (to recover for AEP's 401(k) plan losses suffered by the plan) may proceed to judgment on the merits in the absence of an order granting class certification. Plaintiff's initial brief on this issue is to be filed by September 26, 2008.

If you were a participant in AEP's 401(k) plan holding AEP stock in your plan account at any time between December 9, 1998 and December 31, 2002 and would like more information about the lawsuit, or about how you may participate in the lawsuit in a lead or non-lead capacity, you may contact Stull, Stull & Brody. There is no cost or obligation.

More information on this and other class actions can be found on the Class Action Newsline at www.globenewswire.com/ca.



            

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