A lawsuit was filed for certain investors in shares of Duke Energy (NYSE: DUK) over alleged securities laws violations. Deadline: September 24, 2012. NYSE:DUK investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/01/2012 -- An investor in shares of Duke Energy (NYSE: DUK) filed a lawsuit in the U.S. District Court for the Western District of North Carolina against Duke Energy Corporation over alleged violations of federal securities laws in connection with certain statements regarding the merger between Duke Energy and Progress Energy.
Investors who purchased shares of Duke Energy (NYSE: DUK) between June 11, 2012 and July 9, 2012, have certain options and there are strict and short deadlines running. Deadline: September 24, 2012. NYSE:DUK investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of all purchasers of common stock of Duke Energy (NYSE: DUK) between June 11, 2012 and July 9, 2012, that Duke Energy violated the Securities Exchange Act of 1934.
In January 2011 the merger between Duke Energy and Progress Energy was announced and under the merger agreement, Progress Energy’s shareholders received common stock of Duke Energy in exchange for each share of Progress Energy common stock. It was planned that the former chairman and CEO of Progress Energy, Inc would take over as president and CEO of the combined companies.
However on July 3, 2012, Duke Energy announced that the former chairman and CEO of Progress Energy, Inc resigned and the Duke Energy Chairman and CEO, who was supposed to be chairman after the merger, was asked by the board to continue as CEO. A former Progress Energy director said that the Progress Energy board of directors had been misled prior to the merger.
July 5, 2012, the North Carolina Attorney General and the North Carolina Utilities Commission launched investigations into whether Duke Energy misled regulators prior to approval of the merger.
Those who purchased shares of Duke Energy (NYSE: DUK) between June 11, 2012 and July 9, 2012, have certain options and there are strict and short deadlines running. Deadline: September 24, 2012. NYSE:DUK investors should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com