Alternate Energy Holdings Settles With Disgruntled Shareholders


Alternate Energy Holdings, the embattled Eagle-based company with hopes of building a nuclear facility in Payette County, has entered into what is called "a material definitive agreement" with a group of disgruntled investors. AEHI and its CEO Don Gillispie will have to make a payment of $450,000 to the complainants by June 30. If the company makes the pay-off, the alleged claims go away. If AEHI doesn't come up with the money, the company faces a $2 million penalty judgment. The investors had purchased AEHI stocks between Sept. 20, 2006, and Dec. 14, 2010.

The Securities and Exchange Commission had alleged that AEHI misled investors and grossly understated Gillispie's compensation.

Meanwhile, Payette County commissioners recently overruled their county's Planning and Zoning Commission, giving AEHI the green light to begin what it called "its next phase" for the proposed nuclear plant—completing initial site improvements prior to commencing an environmental impact study.

Alternate Energy Holdings stock was trading at 5 cents a share last Friday.