NEW YORK, Jan. 9, 2020 /PRNewswire/ -- Bernstein
Liebhard, a nationally acclaimed investor rights law firm, reminds
investors of the deadline to file a lead plaintiff motion in a
securities class action has been filed on behalf of investors that
purchased or acquired the securities of Exelon Corporation
("Exelon" or the "Company") (NASDAQ: EXC) between February 9, 2019, and November 1, 2019, inclusive (the "Class
Period"). The lawsuit filed in the
United States District Court for the Northern District of
Illinois alleges violations of the
Securities Exchange Act of 1934.
If you purchased Exelon securities, and/or would like to
discuss your legal rights and options please visit Exelon
Shareholder Class Action or contact Matthew
E. Guarnero toll free at (877) 779-1414 or
MGuarnero@bernlieb.com.
Specifically, Defendants made false and/or misleading statements
and/or failed to disclose that: (i) Exelon and/or its employees
were engaged in unlawful lobbying activities; (ii) the foregoing
increased the risk of a criminal investigation into Exelon; (iii)
ComEd's revenues were in part the product of unlawful conduct and
thus unsustainable; and (iv) that, as a result, the Company's
public statements were materially false and misleading at all
relevant times.
On October 15, 2019, shortly
before the market closed, Exelon issued a press release announcing
the abrupt departure of Anne
Pramaggiore (Pramaggiore), Chief Executive Officer (CEO) of
Exelon Utilities, and former President/CEO of ComEd. On this news,
Exelon's stock price fell $2.15 per
share, or 4.57%, to close at $44.91
per share on October 16, 2019.
Then, on October 31, 2019, during
intraday trading, Exelon filed a Quarterly Report on Form 10-Q with
the SEC, disclosing that [o]n October 22,
2019, the SEC notified Exelon and ComEd that it has also
opened an investigation into their lobbying activities. On this
news, Exelon's stock price fell $1.17
per share, or 2.51%, to close at $45.49 per share on October 31, 2019.
Finally, on November 1, 2019,
after the market opened, the Chicago Tribune reported that [a]
source with knowledge of the case in Chicago confirmed that Pramaggiore is one
focus of the ongoing federal investigation. On this news, Exelon's
stock price fell an additional $0.15
per share to close at $45.34 per
share on November 1, 2019, total
decline of 2.83% since the initial announcement of the SEC
investigation.
If you purchased Exelon securities, and/or would like to
discuss your legal rights and options please visit
https://www.bernlieb.com/cases/exeloncorporation-exc-shareholder-class-action-lawsuit-stock-fraud-232/apply/
contact Matthew E. Guarnero toll
free at (877) 779-1414 or MGuarnero@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court
no later than February 14, 2020. A
lead plaintiff is a representative party acting on behalf of other
class members in directing the litigation. Your ability to share in
any recovery doesn't require that you serve as lead plaintiff. If
you choose to take no action, you may remain an absent class
member.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and listed in The
Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
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