Cobb EMC settles suit for $100 million

Updated:

ATLANTA —

Cobb County EMC has agreed to pay current and former members $100 million dollars in what may be the largest legal settlement in Cobb County history.

Channel 2 Cobb County bureau chief Ross Cavitt reported that a judge signed off on the agreement Tuesday morning.

A group of Cobb EMC customers sued the utility company alledged it had not returned so-called "Capital Credits" to its members for 40 years.

EMC's are non-profits that are supposed to share proceeds with all of the members.

Judge Stephen Schuster called the settlement historic and a win-win for both the utility and its customers.

Small customers may only see a $100 refund but larger customers could get a much bigger check.

The Cobb County School District will receive more than $1.8 million in the settlement, according to Cavitt.

Click here to read more about the Cobb EMC settlement and to submit a claim.