Calpine Corporation

Calpine Corporation

The lawsuit was settled for $43 million in cash on October 12, 2009. The following is a summary of the lawsuit: ‘This case was brought as a class action alleging that Defendants made false and misleading statements in the Prospectus for Calpine’s April 24, 2002

More about Calpine Corporation:  Calpine Corporation is America’s largest generator of electricity from natural gas and geothermal resources. A Fortune 500 company based in Houston, Texas, the company’s stock trades on the New York Stock Exchange under the symbol CPN. Its fleet of 83 power plants in operation or under construction represents nearly 27,000 megawatts of generation capacity. Through wholesale power operations and its retail business, Champion Energy, Calpine serves customers in 19 states and Canada.

The company specializes in developing, constructing, owning and operating natural gas-fired and renewable geothermal power plants. In 2014, while M.J. Bradley & Associates ranked Calpine as the nation’s eighth largest power producer, it ranked the company 77th, 79th and 70th with regard to emissions of SO2, NOx and CO2, respectively, with no mercury emissions in its gas-fired fleet.These results reflect efficient operation of a modern fleet with no coal-fired generation.

Calpine’s predominantly gas-fired fleet also benefits from the nations’ abundant and affordable supply of natural gas and the increasing need for dispatchable power plants to successfully integrate intermittent renewables into the grid. The company advocates for responsible environmental regulation, competitive wholesale power markets and market-driven solutions that result in nondiscriminatory forward price signals for investors.

As of 2015, the directors of Calpine are Executive Chairman Jack Fusco, Lead Independent Director Frank Cassidy, CEO Thad Hill, Michael W. Hoffmann, David C. Merritt, W. Benjamin Moreland, Robert A. Mosbacher, Jr., and Denise M. O’Leary. The executive leadership team includes President /CEO Thad Hill, EVP/Chief Legal Officer Thad Miller, EVP/Chief Financial Officer Zamir Rauf and EVP/Chief Commercial Officer Trey Griggs.

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