(Download) "Hancock v. Hobbs" by Eleventh Circuit U.S. Court of Appeals * eBook PDF Kindle ePub Free
eBook details
- Title: Hancock v. Hobbs
- Author : Eleventh Circuit U.S. Court of Appeals
- Release Date : January 14, 1992
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 62 KB
Description
These two cases, consolidated on appeal, raise the question whether a private suit under the federal Racketeer Influenced and Corrupt Organizations Act (RICO), 18 U.S.C. § 1964(c) (1988), may be brought against a utility to recover for excessive charges for electrical power resulting from the utilitys fraudulent and material misrepresentations to a state rate-setting commission. The appellants in these cases seek to represent those who have purchased electrical power from Georgia Power Company and Alabama Power Company (the Utilities), both of which are subsidiaries of The Southern Company. The appellants allege that the Utilities, in conspiracy with Arthur Andersen & Co., their independent accounting firm, understated their net income in rate applications to their state public service commissions (the PSCs) by improperly accounting for purchases of spare parts; thus, the Utilities fraudulently obtained rate increases.