NEW ORLEANS–(BUSINESS WIRE– Former Louisiana Attorney General Charles C. Foti, Jr., Esq., A partner in law firm Kahn Swick & Foti, LLC (“KSF”), announced that KSF has opened an investigation into Exelon Corporation (NasdaqGS: EXC ).
Between July and October 2019, the company announced that it and its subsidiary Commonwealth Edison Company (“ComEd”) had received two grand jury summons from the U.S. Attorney’s Office for the Northern District of Illinois (“USAO”) and the SEC investigating their Lobbying activities. On July 16, 2020, ComEd entered into a Deferred Prosecution Agreement (“DPA”) with the USAO that allowed for high-level jobs, subcontracting and other benefits for “political allies” from 2011 to 2019 – Elected elected civil servant to influence “legislation regarding ComEd and its business,” and pay a US $ 200 million fine and establish various policies and practices to ensure compliance with corrective actions.
The company and some of its executives were sued in a securities class action alleging that they did not disclose material information during the class period in violation of federal securities laws. Recently, the court that led this case denied the company’s motion for partial dismissal, allowing the case to move forward.
KSF’s investigation is focused on whether Exelon’s officers and / or directors have breached their duty of loyalty to Exelon shareholders or have otherwise violated state or federal law.
If you have information that would assist KSF with the investigation, or were a long-term holder of Exelon stock and would like to discuss your legal rights, please call 1-877-515-1850 toll free with no obligation or cost, or send an E -Mail KSF Managing Partner Lewis Kahn ([email protected]) or visit https://www.ksfcounsel.com/cases/nasdaqgs-exc/ for more information.
About Kahn Swick & Foti, LLC
KSF, partnered with former Louisiana Attorney General Charles C. Foti Jr., is one of the leading securities litigation law firms in the country. KSF assists a wide variety of clients – including public institutional investors, hedge funds, money managers and private investors – in their search for investment losses due to corporate fraud and misconduct by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you can visit www.ksfcounsel.com.